IoTeX/Yen 24-Hour Market Overview

• IOTXJPY opened at 3.516 and closed at 3.619 within 24 hours, showing a modest rally.
• Volatility surged after 19:45 ET as price spiked from 3.621 to 3.766 before a sharp pullback.
• RSI and MACD showed mixed momentum with a bearish divergence late in the session.
• Bollinger Bands widened as price tested key Fibonacci levels during the afternoon.
• Trading volume spiked briefly in the evening but declined sharply after 22:00 ET.

IOTXJPY opened at 3.516 on October 7, 2025 (12:00 ET-1) and traded between 3.516 and 3.803 before closing at 3.619 by 12:00 ET on October 8. Total trading volume over 24 hours was 858,430 IOTX, with a notional turnover of approximately ¥2,655,656.90. The pair exhibited choppy price action with a notable short-lived bearish reversal toward the end of the session.

Structure & Formations

The 24-hour price action revealed a key support cluster between 3.543 and 3.563, which held through multiple tests. A bearish engulfing pattern formed around 05:15 ET, confirming a short-term pullback after earlier bullish momentum. Between 19:45 and 20:45 ET, a strong rally pushed the price above 3.703 before it retraced back to the 3.621 level. A morning consolidation phase from 03:45 to 06:00 ET was marked by a series of doji, signaling indecision among traders.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages crossed into positive territory during the late afternoon, signaling short-term bullish momentum. However, by the morning, the 50-period line crossed below the 20-period line, hinting at a possible reversal. On the daily chart, the 50- and 100-period moving averages remain well below the 200-period line, indicating the asset is still in a long-term bearish trend.

MACD & RSI

The 15-minute MACD line showed a bearish crossover at around 06:45 ET, confirming a sharp decline after a temporary bounce. RSI reached overbought territory at 3.803 (RSI ~68) during the late afternoon, but a rapid sell-off saw it drop to oversold levels by the early hours of October 8. This divergence between price and momentum indicators suggests a possible exhaustion of short-term bullish sentiment.

Bollinger Bands

Bollinger Bands experienced a sharp expansion in the late afternoon as price surged toward the upper band before a retracement to the lower band. Price remained within the band for much of the session, with a few exceptions in the evening and early morning. The narrowing of the bands in the morning suggested a period of consolidation before the afternoon breakout.

Volume & Turnover

Volume spiked sharply at 19:45 ET (¥130,914.30 turnover) as the price moved from 3.621 to 3.703, followed by a smaller spike at 20:15 ET. After 22:00 ET, volume dropped to near-zero levels, with minimal notional turnover. This lack of follow-through volume after the afternoon rally indicates weak conviction among buyers.

Fibonacci Retracements

Applying Fibonacci retracement levels to the 3.516 to 3.803 swing, the 61.8% level at 3.662 acted as a strong resistance, which was tested twice. The 38.2% level at 3.632 also saw repeated rejection, particularly in the early morning. These retracement levels appear to have played a role in shaping the short-term price action.

Backtest Hypothesis

A backtesting strategy could be designed around the observed Fibonacci retracements and moving average crossovers. Specifically, a long entry could be triggered when price breaks above the 61.8% retracement level (3.662) with a confirmed bullish 20/50 crossover on the 15-minute chart. Stop-loss placement at the 3.543 support level and a take-profit at the 3.803 resistance would encapsulate the key risk-reward structure of the recent swing. The MACD divergence and morning doji may also serve as early warning signals for position adjustments or exits.