IOTX/USDT Dumps Over 1% as Trading Volume Surges Amid Market Drop

I'm observing a significant dump in the IOTX/USDT trading pair with a decline of 1.16%. The current price has fallen from 0.02836 to 0.02803 Tether, signaling a short-term downward trend. The recent trading volume stands at 1.27 million over the last 3 minutes, with a 24-hour volume of 25.2 million, indicating high activity amidst this decline. This price drop might be driven by market sentiment, possibly due to broader crypto market fluctuations or specific news related to IOTX. The substantial trading volume highlights strong selling pressure, which could suggest further short-term downside unless buyers re-enter the market. Investors should approach this dip cautiously, considering the overall market context and their risk tolerance. If support levels hold or positive news emerges, a reversal could occur. However, if selling persists, the price might decline further in the near term, presenting potential opportunities or cautionary signals for traders. It's essential to analyze additional technical indicators and market news before making any trading decisions. Monitoring volume spikes and price action will help determine if this is a short-lived correction or the start of a more extended decline.