$IRYS
🚀 IRYS/USDT: Explosive growth and technical analysis. Where to look for entry points?
The IRYS coin demonstrates a powerful bullish impulse, adding +45.72% and trading at $0.02843. The trading volumes are impressive: the daily volume on IRYS is 10.90 billion, and in USDT - 245.81 million, which indicates enormous interest from the market.
📊 What the graph (1D) shows:
Trend and sliding (MA): The price broke through all key movings (MA 7, 25, 99) with a vertical impulse after a confident flat and local bottom at $0.01168. The gap between the price and moving averages is huge, which indicates a strong overheating.
RSI (Relative Strength Index): Located in the zone of extreme overbought - RSI(6) at 95.04, RSI(12) - 88.21, RSI(24) - 79.40.
Volumes: Record bursts of volume (VOL) were recorded on the last green candles, confirming a large-scale inflow of liquidity.
💡 Trading scenarios and potential:
1. Scenario for correction (Cautionary approach):
With such an overheated RSI, going in the sue of long at current prices is a high risk of getting a deep reset. It is more reasonable to wait for a healthy correction and retest of mirror support levels (range 0.022-$0.024) to find entry points into the continuation of the trend.
2. Breakdown of the local maximum:
The maximum for 24 hours is recorded at $0.02895. Fixing the candle above this zone on large timeframes can open the way to further impulse growth.
🚀 IRYS/USDT: Explosive growth and technical analysis. Where to look for entry points?
The IRYS coin demonstrates a powerful bullish impulse, adding +45.72% and trading at $0.02843. The trading volumes are impressive: the daily volume on IRYS is 10.90 billion, and in USDT - 245.81 million, which indicates enormous interest from the market.
📊 What the graph (1D) shows:
Trend and sliding (MA): The price broke through all key movings (MA 7, 25, 99) with a vertical impulse after a confident flat and local bottom at $0.01168. The gap between the price and moving averages is huge, which indicates a strong overheating.
RSI (Relative Strength Index): Located in the zone of extreme overbought - RSI(6) at 95.04, RSI(12) - 88.21, RSI(24) - 79.40.
Volumes: Record bursts of volume (VOL) were recorded on the last green candles, confirming a large-scale inflow of liquidity.
💡 Trading scenarios and potential:
1. Scenario for correction (Cautionary approach):
With such an overheated RSI, going in the sue of long at current prices is a high risk of getting a deep reset. It is more reasonable to wait for a healthy correction and retest of mirror support levels (range 0.022-$0.024) to find entry points into the continuation of the trend.
2. Breakdown of the local maximum:
The maximum for 24 hours is recorded at $0.02895. Fixing the candle above this zone on large timeframes can open the way to further impulse growth.