IOST/Tether Market Overview for 2025-11-02

• IOST/Tether opened at $0.002207 and closed at $0.002185, with a high of $0.002259 and a low of $0.002165 over the 24-hour period.
• Price experienced a sharp bullish move in the early part of the day before consolidating and trending lower toward the close.
• Total volume reached 161,804,846 tokens, and total turnover was $361,265.
• A Bullish Engulfing pattern formed early in the session, followed by a bearish correction, indicating possible short-term indecision.
• RSI suggests overbought conditions early, then a move toward oversold territory by the close, signaling potential exhaustion in both directions.

IOST/Tether (IOSTUSDT) opened at $0.002207 on 2025-11-01 at 12:00 ET and closed at $0.002185 on 2025-11-02 at 12:00 ET, with a high of $0.002259 and a low of $0.002165. Over the 24-hour period, the market traded 161,804,846 IOST tokens with a total turnover of $361,265. Price action showed a distinct shift in momentum from bullish to bearish, with several key patterns emerging.

The session opened with a bearish tone, followed by a strong bullish reversal in the early hours. A Bullish Engulfing pattern formed around 19:45 ET, indicating short-term strength. However, the momentum did not sustain, and the price eventually corrected lower. A Doji appeared in the late evening, signaling indecision. Key support levels were observed near $0.002207 and $0.002185, while resistance held at $0.002259 and $0.002246. These levels may offer potential bounce points or breakdown triggers in the near term.

Volume was unevenly distributed, with a large spike near $0.002259 in the early evening, followed by a sharp decline as price moved lower. Turnover mirrored the volume pattern, confirming the bearish pullback. The 20-period and 50-period moving averages on the 15-minute chart crossed above price in the afternoon before diverging downward. MACD showed a bearish crossover in the late hours, and RSI entered oversold territory by the close, suggesting the downward move may pause or reverse.

The Bollinger Bands reflected a period of volatility expansion during the bullish phase, followed by contraction as the price consolidated. Price remained near the lower band in the final hours, indicating bearish pressure. Fibonacci retracement levels from the intraday high of $0.002259 and low of $0.002165 identified potential support and resistance at 38.2% ($0.002220) and 61.8% ($0.002182). Traders should watch for a break of the 61.8% level, which could signal a deeper bearish correction.

Looking ahead, IOST/Tether could face key directional decisions depending on whether it holds above $0.002182 or breaks below it. If the price tests the 61.8% Fibonacci support and bounces, it may retest the 38.2% level on a rebound. A sustained close below the 61.8% level may signal further bearish momentum, but given the recent RSI oversold conditions, a short-term rebound cannot be ruled out.

Backtest Hypothesis

A potential backtest strategy could focus on the Bullish Engulfing pattern identified around 19:45 ET, which could have been a buy signal. Holding the position for one day would have captured a short-term rally before the price corrected. To validate this, a systematic backtest across multiple Bullish Engulfing signals since 2022 could be conducted using the correct exchange-qualified symbol (e.g., BINANCE:IOSTUSDT). This would help determine the profitability of the pattern in different market conditions and provide insights into its reliability as a buy signal for IOST/USDT.