IoTeX/Yen (IOTXJPY) Market Overview: Volatile 24-Hour Move with RSI and MACD Indications

Summary
• IOTXJPY traded lower, closing at 1.603 after a 1.628 open, with a 24-hour range of 1.546–1.628.
• Volatility expanded, with price breaching key support and RSI hitting oversold levels.
• Volume surged during the downward leg, but turned quiet in the final hours.

Market Overview

The IoTeX/Yen (IOTXJPY) pair experienced a volatile 24-hour session on 2025-11-14, opening at 1.628 and closing at 1.603 by 12:00 ET. The price touched a low of 1.546, the lowest in the period, and a high of 1.628. Total volume over the 24 hours was 2,924,101.3, with total turnover reaching 4,678,725.60 IOTXJPY. The pair appears to be consolidating after a sharp sell-off.

Structure & Formations

Price broke below the 1.60 psychological level and tested the 1.59–1.60 support zone, failing to hold it and breaking down to 1.546. A long bearish candle formed around 04:45 ET, signaling exhaustion after the steep decline. A potential short-term support level appears forming around 1.546, with a key resistance at 1.60–1.61. A bullish engulfing pattern may form if the price can stabilize above 1.595 in the next 24 hours.

15-Minute Moving Averages

The 20-period and 50-period moving averages both declined throughout the session, with the 20-SMA currently around 1.597 and the 50-SMA at 1.604. Both lines are bearish and could offer temporary resistance if the pair rebounds.

Daily Moving Averages

On the daily chart, the 50-day SMA sits at approximately 1.61, while the 200-day SMA is closer to 1.585. The current price sits near the 200-day line, suggesting a potential pivot point for near-term momentum.

MACD & RSI

The RSI dropped into oversold territory below 30, reaching a low of 28 at 04:45 ET, while the MACD histogram turned negative as bearish momentum built in the early hours. The RSI has shown a slow recovery to 39, but it remains below the neutral 50 threshold. A RSI rebound above 45 could indicate a potential short-term reversal.

Bollinger Bands

Volatility expanded sharply during the 04:45–05:00 ET timeframe, with the price hitting the lower band of the Bollinger Bands. The bands have since tightened slightly, indicating a potential consolidation phase. The price remains within the lower half of the bands, suggesting a continuation of the downward bias unless it breaks back above the upper band.

Volume & Turnover

Volume spiked during the sharp decline, particularly between 04:45 ET and 05:00 ET, when the pair dropped from 1.593 to 1.559 on a high-volume candle. The final hours of the session saw a drop in both volume and turnover, indicating a lack of conviction from traders. A divergence between volume and price action is not currently observed, but increased volume on a potential rebound could confirm a reversal.

Fibonacci Retracements

Applying Fibonacci retracement to the recent 15-minute swing from 1.628 to 1.546, the 61.8% retracement level is around 1.583, which was briefly tested in the early hours of 2025-11-14. The 38.2% level is at 1.598 and appears to be a short-term resistance area. A move above 1.603 (100% retracement from the 1.546 low) would suggest a bullish reversal.

Backtest Hypothesis

Given the recent RSI oversold conditions and the sharp price drop, a backtesting strategy could explore an RSI-based long entry when the indicator falls below 30, with an exit when it crosses back above 50 or after a fixed holding period. This approach might be tested on IOTXJPY using a 14-period RSI and daily candles, with additional risk controls such as a stop-loss at the 1.546 support level. Testing this on a basket of similar altcoins could help generalize performance.