IOTX Price Drop Signals Short-Term Volatility Alert

I am observing a noticeable decline in the IOTXUSDT trading pair, which has dropped by 3.18%. The current price is around ₮0.02895, and it has decreased further to approximately ₮0.02803 within a very short timeframe of about 44 seconds. The volume traded over the last three minutes is roughly 1.27 million, and the 24-hour trading volume is substantial at 25.2 million, with a ratio indicating a significant recent sell-off. This sharp decline suggests increased selling pressure, possibly triggered by short-term market sentiment or news-driven events. The rapid price fluctuation and the high trading volume could indicate a weak short-term support level or a transient market correction. For traders, this could be an opportunity to monitor for potential bounce-back levels or further declines, depending on broader market context. In the crypto market, such swift pullbacks often reflect underlying volatility and traders' reactions to market news or technical signals. It's important to watch for any signs of reversal or confirmation of further downside before making trading decisions. Overall, caution is advised given the rapid and substantial downward movement.