Market Overview for IOST/Tether (IOSTUSDT) – 2025-11-03

• IOSTUSDT declined sharply by 22.8% in the last 24 hours, closing at 0.002082 after hitting a low of 0.001901
• Volume surged to 455,292,480.0 coins, but notional turnover dropped due to the steep price drop
• RSI and MACD signaled overbought conditions earlier, now in bearish momentum territory
• Key support levels at 0.002075–0.002085 and 0.002059–0.002069 appear to be holding
• Volatility spiked with a Bollinger Band expansion following the sharp selloff

IOST/Tether (IOSTUSDT) opened at 0.002195 on 2025-11-02 at 12:00 ET, surged to 0.002242, then fell to a 24-hour low of 0.001901 before closing at 0.002082 as of 2025-11-03 at 12:00 ET. Total trading volume reached 455,292,480.0 coins, while notional turnover declined due to the significant price drop. The asset is trading near recent key support levels, with bearish momentum in technical indicators.

Structure & Formations

The 15-minute chart shows a clear breakdown from the 0.00219–0.002203 range, with a bearish engulfing pattern forming on the 23:45–00:00 ET bar, confirming the reversal. A large bearish candle on the 15:30–16:00 ET bar (from 0.002075 to 0.001993) signals strong selling pressure. Price action suggests a continuation of a bearish trend, with Fibonacci support levels at 0.002075 (38.2%) and 0.002069 (61.8%) in focus.

Moving Averages

On the 15-minute chart, the 20-period MA crossed below the 50-period MA, forming a death cross around 0.00219. The 50-period MA is now at ~0.002175, with the 200-period daily MA around 0.00213. These averages confirm the bearish shift, with price below key moving averages and likely to test lower levels in the near term.

MACD & RSI

MACD turned negative during the selloff, with a bearish crossover and a declining histogram. RSI dropped from overbought levels (>60) to ~33 by 16:00 ET, indicating oversold conditions. However, RSI remains below 50, suggesting that the downtrend may continue unless there is a strong buying interest.

Bollinger Bands

Price collapsed into the lower Bollinger Band during the selloff, with volatility surging as the bands expanded from ~0.00223–0.00220 to ~0.00208–0.00201. This expansion suggests a significant shift in market sentiment. The current price is near the lower band, which could trigger a bounce or further selling, depending on volume and order flow.

Volume & Turnover

Volume spiked dramatically during the selloff, particularly on the 15:30–16:00 ET candle, where 45,529,248 coins were traded at a 17% drop in price. However, notional turnover (amount) was significantly lower due to the price decline, signaling reduced conviction in the bearish move. Divergence between volume and turnover suggests a possible exhaustion of selling pressure or a potential rebound.

Fibonacci Retracements

On the 15-minute chart, price has retraced ~74.5% of the prior 0.001901–0.002242 move to 0.002082. Key Fibonacci levels at 0.002075 and 0.002069 are currently in focus. If these levels hold, price could find a floor and possibly retest the 0.00209–0.00210 range. A breakdown below 0.002069 would suggest a deeper correction is in play.

Backtest Hypothesis

Given the bearish engulfing pattern observed during the selloff, a backtesting strategy could be built around this formation. Historically, a bearish engulfing candle (a large bearish candle following a smaller bullish one) has acted as a reliable reversal signal in certain conditions. A strategy could be to short on the close of the engulfing candle or place a stop just below the engulfing low. Volume confirmation (high volume on the engulfing candle) and RSI divergence would improve the signal's reliability. The automatic retrieval of past bearish engulfing dates for IOST-USDT is currently unavailable due to a server-side issue. We can either reformulate the data query for a different retrieval method or provide the historical dates manually for immediate backtesting.