Market Overview for IOTA/Tether (IOTAUSDT) - October 31, 2025

• IOTA/Tether rose from $0.1347 to $0.1398, a +3.75% gain, driven by late buying near the 24-hour high.
• Momentum strengthened after 02:00 ET, with RSI climbing above 50 and MACD showing a bullish crossover.
• Volatility expanded post 00:00 ET, with price moving between Bollinger Band midline and upper band for several hours.
• Volume spiked to 793,698 contracts during the 13:00 ET sell-off, signaling profit-taking or short-term bearish sentiment.
• A Bullish Engulfing pattern formed near $0.138, potentially signaling a short-term reversal from downward pressure.

IOTA/Tether (IOTAUSDT) opened at $0.1347 on October 30 at 12:00 ET and closed at $0.1398 the following day at the same time. The 24-hour high was $0.1398, and the low was $0.1319. Total trading volume reached 3,712,714 contracts, with a notional turnover of approximately $501,874 (using closing prices for estimation).

The price action reflected a clear shift from bearish to bullish sentiment, particularly during the overnight session. A bearish consolidation from 16:00 ET until 00:00 ET gave way to a steady climb, with a sharp break above the 15-minute 20-EMA and 50-EMA occurring around 01:30 ET. This signaled a potential trend reversal and attracted further buyers. The 15-minute 50-EMA currently sits at $0.1357, slightly below the current price, indicating ongoing bullish momentum in the short term.

MACD turned bullish with a positive histogram forming after 02:00 ET, and RSI crossed above 50 at 03:00 ET, reaching 61 by 08:00 ET, suggesting moderate overbought conditions. Volatility, as measured by the width of the Bollinger Bands, expanded significantly after 00:00 ET, with the price testing the upper band multiple times and closing near it. This suggests a short-term bullish breakout may be in progress.

Fibonacci retracement levels on the 15-minute swing from $0.1319 to $0.1398 show $0.1357 (38.2%) and $0.1379 (61.8%) as key areas of interest. The price currently sits near $0.1398, which is the 100% extension, suggesting a possible pause or consolidation ahead. The daily chart shows a longer-term bullish trend with the price above the 50-day and 200-day moving averages, supporting a low-risk long-term bias.

A Bullish Engulfing pattern emerged around $0.138 in late October, potentially signaling a short-term reversal in sentiment. This pattern coincided with a MACD crossover and a RSI rebound, which may confirm the shift in momentum. Traders may watch for a retest of this level or a breakout above $0.1401 for further bullish confirmation.

Backtest Hypothesis
Based on the observed technical signals, including the Bullish Engulfing pattern, MACD crossovers, and RSI reversion, a backtesting strategy could focus on long entries following these patterns, with a stop-loss placed below the $0.1375 support. However, the backtesting engine has returned an error related to the get_asset_price node, suggesting the price data for the IOTA/USDT pair is not accessible in the current database. This could be due to an unsupported ticker format or a missing historical data series.

To proceed, the backtesting could be retried using a more widely-supported ticker format such as IOTAUSDT.BINANCE or IOTAUSDT.UDC, or alternatively, switch to an Event Backtest that evaluates average 3-day returns following each Bullish Engulfing event. If available, uploading a custom OHLC dataset for IOTA/USDT would also allow for a more accurate simulation.