In this IRISnet technical analysis, we will examine the current price action, trading volume, key levels and indicators for IRIS-USDT. IRISnet is a decentralized blockchain network that utilizes a novel consensus algorithm called “Proof of View” to incentivize nodes to contribute value to the network. This innovative approach allows for faster and more secure transactions, making it an attractive option for users looking for a reliable and efficient blockchain solution. Additionally, IRISnet’s unique governance structure ensures that the network is constantly evolving and improving to meet the needs of its users.
IRISnet Price Overview:
As of May 17, 2024, IRISnet is trading at approximately 0.02386 USDT. Let’s dive into the detailed price action for IRIS-USDT:
| Metric | Value |
|---|---|
| Open (O) | 0.02302 |
| High (H) | 0.02399 |
| Low (L) | 0.0229 |
| Close (C) | 0.02386 |
| Volume (C) | 27,852,381.80 |
- Open (O): The opening price for today’s trading session was approximately 0.02302 USDT.
- High (H): IRISnet reached a daily high of around 0.02399 USDT.
- Low (L): The daily low for IRIS-USDT was approximately 0.0229 USDT.
- Close (C): At the time of analysis, IRISnet is trading near its daily close of 0.02386 USDT.
| Metric | Value |
|---|---|
| 1D Change (%) | 3.74% |
| 3D Change (%) | 0.38% |
| 7D Change (%) | -3.52% |
| 30D Change (%) | -10.13% |
| 90D Change (%) | -26.52% |
| YTD Change (%) | -21.80% |
Over the past three days, IRISUSDT has risen by approximately 0.38%, showcasing increased market volatility. Throughout the last week, it continued to decline, with a loss of around -3.52%, indicating investor interest. The 30-day analysis reveals a more comprehensive perspective, with IRISUSDT maintaining a downward trend of approximately -10.13%, despite intermittent fluctuations. Examining the last 90 days, IRISUSDT has witnessed substantial fall of approximately -26.52%, reflecting strong long-term confidence. Year-to-date, IRISUSDT has steadily depreciated by around -21.80%, attracting both institutional and retail investors and highlighting its potential as a long-term investment.
IRISnet Live Chart:
You can access a live price chart for IRIS-USDT on various cryptocurrency market websites or trading platforms. These charts provide real-time data, allowing you to track price movements and indicators as they evolve.
Price Volatility and Momentum:
- Volatility score is 0.57163.
- Momentum score is -0.17411.
IRIS USDT Technical Analysis
IRISnet Trading Volume:
The trading volume for IRISnet (IRIS) over the past 24 hours has been insignificant, with approximately 27,852,381.80 USDT traded against IRIS. Elevated trading volume often indicates increased market activity and can be an essential factor to consider in technical analysis.
Moving Averages:
- 50-day Simple Moving Average (SMA): IRIS is currently trading below the 50-day SMA, indicating short-term bearish momentum.
- 200-day Simple Moving Average (SMA): IRISnet is also trading below the 200-day SMA, indicating a negative long-term outlook.
Relative Strength Index (RSI):
- The RSI30 for IRIS-USDT is currently in the low zone, around 41.16136. This suggests that IRISnet is in bearish territory.
Analysis from TradingView:
Our Key Takeaways:
IRISnet (IRIS-USDT) is currently exhibiting signs of short-term bearish momentum, with key support and resistance levels in focus. Traders and investors should closely monitor the USDT monthly resistance level and the USDT support level for potential trading opportunities. Additionally, the low RSI and insignificant trading volume are low signals for potential downward movement.
Explore IRISnet’s (IRISUSDT) potential setbacks at 2.39e-02 USDT through bearish technical analysis, emphasizing weakened support and cautionary indicators.
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Disclaimer: The information provided herein, including any technical analysis of cryptocurrencies, is for informational and educational purposes only. It should not be considered as financial advice or a recommendation to buy, sell, or hold any cryptocurrency or make any financial decisions.
Cryptocurrency markets are highly volatile and speculative. Past performance is not indicative of future results, and there are no guarantees of profit or protection against losses. Cryptocurrency investments are subject to significant risks, including but not limited to market fluctuations, regulatory changes, and technological vulnerabilities.
Technical analysis involves the use of historical price and volume data, patterns, and indicators to make predictions about future price movements. It is a subjective and speculative approach to market analysis and should not be the sole basis for making investment decisions.