Market Overview for IOTA/Tether (IOTAUSDT): 2025-11-04 24-Hour Summary

• IOTA/Tether declines 1.7% in 24 hours amid a bearish consolidation phase.
• Volume remains elevated in early morning ET, suggesting renewed selling pressure.• RSI near 30 indicates possible oversold conditions, but bullish reversal is uncertain.

IOTA/Tether (IOTAUSDT) opened at $0.1289 on 2025-11-03 12:00 ET and closed at $0.127 at 12:00 ET the following day, with a high of $0.1309 and low of $0.1235. Total trading volume for the 24-hour window was 10.2 million IOTA, with notional turnover of approximately $1.29 million. The price action reflects a bearish bias, with key resistance near $0.1309 and support around $0.1235.

The structure of the 15-minute candles shows a bearish engulfing pattern forming around the $0.1295–0.1303 range, followed by a consolidation phase in the late evening and early morning ET. A notable 50% Fibonacci retracement level appears at $0.1271, which may act as a near-term support. The 20-period EMA has dipped below the 50-period EMA, reinforcing a short-term downtrend.

Momentum indicators paint a mixed picture. The RSI has dropped to 30, suggesting the pair may be oversold, but the MACD remains bearish with a negative histogram and a cross below the signal line. Volatility appears to have expanded, with Bollinger Bands widening after the price broke below the lower band at $0.1235. IOTA/Tether is currently trading slightly above the 20-period EMA but below the 50-period EMA.

Volume was elevated between 04:00–06:00 ET, coinciding with the initial breakdown from key support levels. The divergence between volume and price during this period suggests a bearish confirmation. Turnover spiked in the early hours, with the 05:30 ET candle showing a large volume of 1.02 million IOTA and a price drop from $0.1294 to $0.1274. A potential head-and-shoulders pattern may form if price fails to retest $0.1294 in the next 24 hours.

Looking ahead, IOTA/Tether may test $0.1235 as a key support level or consolidate between $0.125–0.127. A failure to hold above $0.1235 could trigger a deeper correction, while a rebound above $0.1295 could signal a potential reversal. Investors should closely monitor volume during key price levels to assess the strength of the move. As always, market conditions can shift rapidly in crypto, and unexpected macro events could alter the near-term outlook.

Backtest Hypothesis
The backtesting strategy reported an issue with the ticker symbol, specifically using “IOTAUSD.UDC” instead of the standard “IOTAUSDT” for spot pricing. The discrepancy likely led to missing price data, preventing a successful backtest. To align with the technical analysis provided above, it is recommended to retry the backtest using the correct symbol: IOTAUSDT with a spot price feed. This will ensure accurate historical price data is pulled for the period 2022-01-01 to 2025-11-04. Using the corrected ticker will allow the strategy to evaluate its performance over the identified price structure, including key levels of support, resistance, and momentum indicators like RSI and MACD. This adjustment will help validate or refine the hypothesis based on real market behavior.