IoTeX/Yen (IOTXJPY) Market Overview: Volatile 24-Hour Rally and Key Resistance Levels

• • IOTXJPY opened at 3.549 and closed at 3.563, rising 0.42% over 24 hours with a high of 3.575 and low of 3.528.
• Momentum was volatile with RSI fluctuating between overbought and neutral levels, suggesting mixed trader sentiment.
• A key breakout above 3.571 may trigger a retest of 3.575 resistance and a potential move toward 3.58.
• Volume spiked sharply at 15:00 ET, correlating with a 122-point rally and confirming a short-term bullish reversal.
• Volatility expanded in the last 4 hours as Bollinger Bands widened, suggesting increased short-term uncertainty.

IOTXJPY opened at 3.549 at 12:00 ET–1 and closed at 3.563 by 12:00 ET, with a high of 3.575 and a low of 3.528 over the period. The pair rallied 0.42% on a total volume of 296,496 IOTX and a turnover of 848,727 JPY, showing increased participation in the final hours of the cycle.

The structure of the 24-hour OHLCV data reveals a series of bearish and bullish transitions. A key support level appears to have formed around 3.54–3.544, where price found multiple times after a deep pullback on 2025-09-23 at 17:30 ET. A notable bullish reversal pattern emerged around 00:30 ET on 2025-09-24, with a bullish harami and a strong follow-through in the next few candles. The 3.54–3.55 range also shows a convergence of the 50-period and 20-period moving averages on the 15-minute chart, suggesting a potential equilibrium point for near-term buyers.

At the time of writing, the RSI (14) fluctuated between 68 and 48, indicating that while the pair may not be overbought, the momentum remains directionally uncertain. MACD crossed above the signal line at 05:00 ET, suggesting short-term bullish momentum. However, a divergence between price and RSI at the end of the 24-hour window hints at potential exhaustion. Volatility expanded as Bollinger Bands widened after 11:00 ET, with the close at 3.563 landing just above the upper band at 3.569, signaling a potential overbought condition.

Volume spiked sharply at 15:00 ET, coinciding with a 122-point rally from 3.563 to 3.575, suggesting increased buyer participation. Notional turnover also rose significantly in the same period, reinforcing the price move. Fibonacci retracements from the recent 15-minute swing (3.528 to 3.575) suggest that 3.560–3.566 is a critical 38.2% retracement level. A break above 3.571 may see a retest of 3.575 resistance and potentially 3.580 on a bullish continuation.

The backtest hypothesis for IOTXJPY is based on a reversal strategy targeting the 3.54–3.55 equilibrium zone and a breakout above 3.571. The strategy would look for a bullish harami or inside bar pattern at 3.54–3.55, with confirmation via a break above 3.571 on rising volume. Stops would be placed below 3.552 to protect against a breakdown. Targets include a retest of 3.575 and then 3.580–3.583. This approach aligns with the recent MACD crossover, RSI divergence, and Bollinger Band expansion, making it a time-sensitive and volatility-based strategy best suited for short-term traders.