Market Overview: IOTA/Tether (IOTAUSDT) 24-Hour Movement

Summary
• Price drifted lower from 0.1076 to 0.1026, forming bearish continuation patterns.
• Volume increased steadily after 19:00, confirming bearish momentum.
• RSI hit oversold territory near 28, suggesting potential short-term bounce.

IOTA/Tether (IOTAUSDT) opened at 0.1076 on 2026-01-09 12:00 ET, reached a high of 0.1081, and closed at 0.1026 on 2026-01-10 12:00 ET, with a low of 0.1016. Total volume was 15.27 million units, and notional turnover reached $15.84 million over 24 hours.

Structure & Formations

Price moved in a descending channel, with resistance near 0.1046 and support around 0.1016–0.1018. A long bearish shadow at 04:00 ET and several bearish engulfing patterns from 19:00 ET confirmed ongoing downward pressure. A potential bear trap may be forming near 0.1032, where bullish attempts failed repeatedly.

Moving Averages

On the 5-minute chart, the 20-period and 50-period moving averages remained below price, reinforcing the bearish bias. Daily moving averages (50/100/200) are expected to show a similar bearish alignment over the coming days, barring a strong reversal.

MACD & RSI
The MACD remained negative throughout, with bearish divergences visible in the late hours. RSI dropped to oversold levels near 28, hinting at a potential bounce, but a sustained move above 30 is needed to signal a reversal.

Bollinger Bands

Price traded near the lower band for much of the session, indicating low volatility and bearish exhaustion. A contraction in band width during the early hours suggests a possible expansion and breakout in the next 24 hours.

Volume & Turnover

Volume surged after 19:00 ET, particularly between 22:00 and 02:00, confirming bearish continuation. Turnover mirrored volume closely, with no divergence observed. A sharp drop in volume after 05:00 ET may signal short-term exhaustion.

Fibonacci Retracements

A key 61.8% Fibonacci retracement level lies at 0.1028–0.1030. Failure to break this level could extend the downtrend toward 0.1016. A potential bounce from this area could target 0.1040–0.1042 if buyers enter.

IOTAUSDT may find near-term support at 0.1016 and resistance at 0.1040. A reversal above 0.1035 could indicate a short-term rally, but bearish momentum remains dominant. Investors should remain cautious, as a breakdown below 0.1018 could accelerate the decline.