IoTeX/Yen (IOTXJPY) Market Overview – 2025-10-30

• • •

• Price dropped to 1.696 Yen after reaching 1.812 Yen intraday.
• Momentum shifted from bullish to bearish with RSI declining.
• Volatility spiked with a sharp retracement post 18:45 ET.
• Bollinger Band contraction suggests potential for a breakout.
• Turnover surged to 1.664 Yen amid heavy volume at 1.724 Yen.

The IOTXJPY pair opened at 1.743 Yen at 12:00 ET–1, reached a high of 1.812 Yen, and closed at 1.758 Yen by 12:00 ET. The 24-hour trading volume amounted to 16,937,360.0 units, with total turnover of 29,650.99 Yen. The session featured sharp swings, including a dramatic pullback after a 1.806–1.809 move, followed by a sharp drop to 1.705 Yen.

Structure & Formations

Price action revealed a strong bearish reversal at 1.724 Yen, marked by a large bearish candle with high volume. The intraday high of 1.812 Yen acted as a key resistance, and failure to hold above 1.776 Yen confirmed a breakdown in bullish momentum. A potential support level appears at 1.696 Yen, where volume spiked and the pair briefly consolidated. A doji near 1.728 Yen also signaled indecision before the bearish move.

Moving Averages

The 15-minute 20SMA and 50SMA show bearish divergence as the short-term average crosses below the longer-term one. On the daily chart, the 50DMA and 100DMA are converging, suggesting a possible flattening in trend. The 200DMA remains above current price levels, indicating that the longer-term trend remains bearish.

MACD & RSI

The RSI-14 appears to have moved into oversold territory, with a reading below 30 during the 10:45–11:30 ET window. However, a bearish crossover in the MACD histogram confirms the strength of the downtrend. Momentum is clearly on the short side, with no signs of a reversal forming on the RSI or MACD.

Backtest Hypothesis

Given the RSI signal and the potential for a continuation of the bearish trend, a backtest using an RSI-oversold strategy could be implemented. The most efficient method is to use IOTXUSDT data, as RSI is scale-invariant, and the strategy would remain valid for IOTXJPY. This avoids the need to derive RSI manually from raw OHLCV data, though it does require access to a liquid USD-quoted pair. A simple RSI-oversold strategy (buy on RSI < 30, sell on RSI > 70) may offer insights into potential mean-reversion opportunities in this volatile asset.

Bollinger Bands

Volatility expanded during the early part of the session, with the upper band reaching 1.812 Yen and the lower band falling to 1.696 Yen. Price spent the final hours within the lower half of the Bollinger Bands, suggesting a consolidation phase. A breakout above the upper band could signal renewed bullish momentum, though such a move is unlikely without a catalyst.

Volume & Turnover

Volume spiked during the 11:45–12:15 ET window as price dropped to 1.696 Yen. Notional turnover followed a similar pattern, with a sharp increase during the 10:45–11:30 ET window. The divergence between volume and price movement—especially during the 08:15–09:30 ET period—suggests a weakening of the bearish bias ahead of the final pullback.

Fibonacci Retracements

Applying Fibonacci levels to the 1.696–1.812 move shows key levels at 38.2% (1.754 Yen) and 61.8% (1.726 Yen). Price tested the 61.8% level before breaking down, confirming it as a critical support. The 38.2% level appears to have held briefly before a continuation of the bearish move. These levels may act as reference points for short-term traders and swing traders alike.

Looking ahead, the next 24 hours could see a test of the 1.696 Yen support level and potential bounce or breakdown. A break below that level could extend the bearish trend toward 1.672 Yen, while a strong close above 1.726 Yen may signal a short-term reversal. Investors should watch volume and momentum indicators for confirmation of any reversal attempt.