Summary
• IOST/Tether broke below key support at 0.001845, confirming a bearish reversal.
• A bearish engulfing pattern formed near 0.001852, reinforcing downward momentum.
• Volatility expanded significantly in early trading, with a 0.000018 range between high and low.
• Turnover surged past $40,000 at 00:30 ET, coinciding with a sharp price drop to 0.001843.
• RSI fell below 30, indicating oversold conditions, though volume failed to confirm strength.
Market Overview
IOST/Tether (IOSTUSDT) opened at 0.001867 on 2026-01-04 at 12:00 ET, reached a high of 0.001873 and a low of 0.001814, and closed at 0.001829 by 12:00 ET the following day. Total 24-hour volume was approximately 65,384,300
, and notional turnover was $118,200.
Structure & Formations
Price action formed a bearish engulfing pattern near 0.001852, following a failed rally. Key support levels were identified at 0.001845 and 0.001830, with a doji appearing near 0.001830, suggesting potential consolidation. The breakdown below 0.001845 may indicate a continuation of the downward trend.
Moving Averages
On the 5-minute chart, price closed below both the 20-period and 50-period moving averages, reinforcing bearish bias. Daily data indicates the 50-period moving average is likely above 0.001850, confirming a shift below intermediate-term support.
MACD & RSI
The RSI fell below 30 during the early morning session, signaling oversold territory, but volume failed to confirm strength, suggesting caution. The MACD remained negative throughout the session, with bearish divergence between price and momentum in the final hours.
Bollinger Bands
Volatility expanded as price moved between the outer bands in early trading, with a 0.000018 range. By midday, price settled closer to the lower band, indicating potential oversold conditions and a possible rebound, though bearish momentum remains intact.
Volume & Turnover
Turnover surged past $40,000 at 00:30 ET as price dropped sharply to 0.001843. The largest 5-minute volume spike occurred at 00:30 ET with 17,086,013 IOST traded. A divergence between volume and price in the final hours suggests caution for further declines.
Fibonacci Retracements
Fibonacci levels drawn from the 0.001873 high to the 0.001814 low show 0.001830 as the 61.8% retracement level. Price currently hovers near this level, which could either support a bounce or confirm a breakdown if tested again.
IOST/Tether may remain range-bound near 0.001830 in the next 24 hours, with a potential for a short-term rebound if buyers re-enter. Investors should watch for a break below 0.001823, which could trigger further downside.
Comments
No comments yet