Market Overview for IOTA/Tether on 2025-12-23

Summary
• IOTA/Tether tested key support near $0.0826–$0.0828, forming bearish engulfing patterns during sharp declines.
• Volatility expanded sharply in early ET hours, with a 7.2% drop from high to low.
• Turnover spiked during the 9:15–9:30 ET and 15:00–15:15 ET sessions, but price failed to follow through.
• RSI showed oversold conditions near 0.0821 but failed to trigger a sustainable rebound.

IOTA/Tether (IOTAUSDT) opened at $0.0867 and traded between $0.0817 and $0.0874, closing at $0.0836 at 12:00 ET. Total volume was 10,881,676.0 and turnover reached $911,841.35 over the 24-hour period.

Structure & Formations

Price action showed a clear breakdown below critical support near $0.0848 after a failed attempt to retest the $0.0855–$0.086 range. A bearish engulfing pattern formed at $0.0845–$0.0841, indicating a shift in momentum. A doji at $0.0837–$0.0836 suggested short-term indecision as buyers attempted to defend the lower end of the $0.083–$0.0835 range.

Moving Averages

On the 5-minute chart, IOTAUSDT closed below its 50-period moving average, reinforcing the bearish bias. The 20-period MA briefly acted as a resistance during early ET attempts to rally, but failed to provide support on the downside. Daily moving averages (50/100/200) all sit above current price levels, suggesting a continuation of bearish momentum.

MACD & RSI

MACD crossed below the zero line with bearish divergence during the 9:15–9:30 ET sell-off, suggesting continued downward pressure. RSI reached an oversold level near 0.0821 but failed to spark a strong rebound, signaling exhausted buying interest.

Bollinger Bands

Volatility expanded significantly as price broke out of the Bollinger Band consolidation seen during 18:00–20:00 ET, pushing below the lower band by late ET. Price has remained below the 20-period Bollinger Band midline since the breakdown, suggesting bearish continuation is likely.

Volume & Turnover

Volume surged during the 9:15–9:30 ET breakdown and again during the 15:00–15:15 ET selloff, confirming bearish conviction. However, turnover failed to expand meaningfully during the latter period, pointing to potential exhaustion. Divergence between volume and price during the 10:00–12:00 ET consolidation period suggests a weaker bearish signal.

Fibonacci Retracements

Fibonacci levels for the $0.0826–$0.0874 swing show the 0.618 level at $0.0849 and 0.382 at $0.0858. IOTAUSDT is currently near the 0.786 level at $0.0836, suggesting further downside could be seen before potential support is met near $0.0826–$0.0828.

Looking ahead, IOTAUSDT could retest the $0.0826–$0.0828 support cluster if bearish momentum continues. A rebound above $0.0845 may signal a temporary relief rally, but a sustained move back above $0.0855 is unlikely without a strong volume surge. Investors should remain cautious of short-term volatility and potential follow-through selling if key support is breached.