Market Overview for IQ/Tether (IQUSDT) - 24-Hour Technical Summary

• Price surged 2.4% overnight, breaking 0.003300 psychological barrier.
• Volume spiked 800% in early hours, confirming bullish breakout momentum.
• RSI reached 58, indicating moderate strength but not overbought conditions.
• Bollinger Bands expanded, signaling rising volatility and potential trend extension.

IQ/Tether (IQUSDT) opened at $0.003265 on 2025-10-02 12:00 ET and closed at $0.003290 as of 2025-10-03 12:00 ET. The pair reached a high of $0.003530 and a low of $0.003253. Total volume traded was 168,397,829.0, and notional turnover came in at ~$557,000. Price action shows a clear bearish pullback after an early morning breakout attempt.

Structure & Formations

Price formed a bullish engulfing pattern at 16:00 ET on 2025-10-02, followed by a series of higher highs and lower lows suggesting a developing bullish bias. A bearish doji at 01:30 ET on 2025-10-03 signals potential exhaustion in the short-term upmove. Key support levels emerged at $0.003290 and $0.003275, both of which held during retracement phases. Resistance levels appear to be consolidating around $0.003315 and $0.003340, which have tested multiple times.

Moving Averages

On the 15-minute chart, the 20-period MA has crossed above the 50-period MA, indicating a short-term bullish crossover. On the daily chart, the 50-period MA is above the 100-period MA, suggesting a longer-term positive trend. The 200-period MA has not yet been tested, but price appears to be approaching the $0.003310 level with a strong likelihood of a bullish retest.

MACD & RSI

The MACD line crossed above the signal line at 04:00 ET and has remained positive since, reinforcing bullish momentum. RSI moved into the 55–60 range, indicating moderate strength without overbought conditions. A divergence between price and RSI appears after 09:00 ET, hinting at a potential short-term correction ahead.

Bollinger Bands

The Bollinger Bands have widened significantly following the early morning breakout, indicating increased volatility. Price has been trading near the upper band since 18:00 ET, a sign that buyers are showing strong control. A pullback to the middle band or below could signal a temporary consolidation phase.

Volume & Turnover

Volume spiked dramatically at 00:15 ET with a 15-minute candle showing 93 million dollars in volume, the highest of the 24-hour period. Turnover also surged during this period, confirming the strength of the upward breakout. Later in the session, volume has declined, indicating reduced conviction in the rally. Price / turnover divergence after 09:00 ET suggests a cooling off in buyer interest, possibly signaling a short-term pause.

Fibonacci Retracements

On the 15-minute chart, the key retracement levels at 38.2% ($0.003310) and 61.8% ($0.003335) have both been tested multiple times, with price bouncing off the 38.2% level as strong support. On the daily chart, the 61.8% retracement level from a larger bearish swing lies at $0.003360, which could become a significant resistance if the current bullish momentum continues.

Backtest Hypothesis

A potential backtesting strategy could involve entering long positions when price closes above the 20-period MA and the 15-minute RSI crosses above 55, with a stop loss placed below the most recent support at $0.003290. This setup is reinforced by a bullish MACD crossover and volume confirmation. The 38.2% and 61.8% Fibonacci levels ($0.003310 and $0.003335) serve as potential take-profit targets. This strategy would aim to capture short-term bullish moves during periods of high volatility and rising momentum, aligning with the observed price behavior on the 15-minute chart.