Market Overview for IOTXJPY on 2025-09-23

• IOTXJPY traded in a range between 3.534 and 3.574, closing slightly higher than the 24-hour open.
• Price action showed consolidation with no clear breakout attempt in the last 24 hours.
• Volume was uneven, with the highest turnover at 13146.0 in a mid-session candle.
• RSI hovered near neutral, indicating no immediate overbought or oversold conditions.
• Bollinger Bands indicated low volatility in the final hours of the period.

24-Hour Price Summary

IoTeX/Yen (IOTXJPY) opened at 3.560 on 2025-09-22 at 12:00 ET and closed at 3.558 at the same time on 2025-09-23. The high of the 24-hour period reached 3.574, while the low dropped to 3.534. Total trading volume was 316,057.0, with total turnover amounting to 1,082,628.5 JPY. Price activity showed a sideways pattern without a definitive trend.

Structure & Formations

Price oscillated between two key support levels at 3.534–3.54 and 3.558–3.565. A few bearish engulfing patterns were observed during the mid to late session, particularly around the 17:00–19:00 ET range, which suggested a period of bearish sentiment. No clear doji were formed, but price remained within a tight channel during the final hours of trading, indicating a potential pause in momentum.

Moving Averages and MACD/RSI

On the 15-minute chart, the 20-period and 50-period moving averages were closely aligned, reflecting the consolidation. The 50-period MA remained above the 20-period, maintaining a neutral bias. MACD remained flat for most of the period, with a slight bearish crossover near the close. RSI oscillated between 40 and 55, suggesting a balanced market with no clear overbought or oversold conditions. There was no significant divergence between price and RSI, indicating that sentiment remained stable.

Bollinger Bands and Volatility

Bollinger Bands displayed a contraction in the final 4–6 hours of the period, with the middle band hovering near 3.555–3.556. Price remained within the bands for the majority of the period, with a few minor touches on the lower band at 3.534. This indicates relatively low volatility and a continuation of the sideways pattern. A potential breakout could occur if price moves decisively above or below this range in the next 24 hours.

Volume and Turnover Analysis

Volume distribution was uneven, with the largest notional turnover occurring in the 03:15–03:30 ET candle, where volume reached 13,146.0 and turnover amounted to 13,146.0 JPY. This suggests a period of active trading and potential order block formation. However, in the final hours, volume decreased significantly, aligning with the narrowing Bollinger Bands and low volatility. The lack of divergence between price and turnover implies that the consolidation was not due to fading interest.

Fibonacci Retracements

Applying Fibonacci retracements to the 24-hour range between 3.534 and 3.574, the 38.2% level was at 3.554 and the 61.8% level was at 3.548. Price hovered near the 38.2% level in the final hour, indicating a potential support zone. On the 15-minute chart, key retracement levels coincided with the support at 3.555–3.556, where price found a temporary floor. These levels could act as short-term resistance or support in the next 24 hours.

Backtest Hypothesis

A potential backtesting strategy for IOTXJPY could focus on breakout trades from the 3.534–3.574 range. Given the recent consolidation and the absence of clear momentum signals, a breakout strategy using Bollinger Band touches and volume confirmation could be tested. For example, a long position might be triggered on a close above 3.574 with a volume spike, while a short position could be taken on a close below 3.534 with similar confirmation. RSI and MACD could act as filters to confirm the strength of the breakout. This strategy would aim to capture directional moves following a period of low volatility and range-bound trading.