Market Overview for IOST/Tether (IOSTUSDT) on 2026-01-08

Summary
• IOST/Tether posted a 24-hour high of $0.002046 and closed near support at $0.001947.
• Volume surged over 14M on the hourly 5-minute chart, confirming breakouts.
• RSI suggests overbought conditions at peak and oversold at close.
• A bullish engulfing pattern emerged following a sharp sell-off.
• Volatility expanded sharply during the 23:45–00:00 ET window.

24-Hour Price Action

IOST/Tether opened at $0.001912, hit a high of $0.002046, and closed at $0.001947 at 12:00 ET. The pair saw a 24-hour volume of 210,659,684.0 and a notional turnover of $421,373.11. The move above $0.002014 was followed by a pullback, forming a potential bullish reversal pattern.

Structure & Momentum Indicators

The price action displayed a bullish engulfing pattern near $0.001941–$0.001947, signaling possible short-covering. RSI reached overbought levels above 70 during the 23:45–00:00 ET window and dipped into oversold territory at close. MACD lines showed divergence during the rally but aligned with the pullback.

Volatility and Volume

Bollinger Bands expanded during the late-night rally, with volatility peaking around 23:45 ET. Volume spiked over 14 million on the 5-minute chart, with strong buying pressure on the 23:45–00:00 and 15:00–15:30 ET candles. Turnover and price were in line, suggesting no divergence.

Key Support/Resistance and Fibonacci Levels

Key support emerged at $0.001942–$0.001947, with a 61.8% Fibonacci retracement level overlapping. Resistance is likely at $0.001985–$0.001991, where the price stalled twice. A break above $0.002003 could target $0.002014 again.

The market may consolidate in the next 24 hours as near-term support at $0.001942 holds. Investors should watch for a breakout above $0.002003, but the recent volatility suggests caution ahead of further moves.