Market Overview for IoTeX/Yen (IOTXJPY) – 2025-10-31

• IoTeX/Yen traded between 1.643 and 1.771, ending near 1.738 after a late-night bullish breakout.
• Strong volume surges and a closing above 1.732 signal renewed momentum and potential continuation.
• Bollinger Bands widened late, suggesting increased volatility with price near the upper band.
• RSI and MACD showed divergence earlier, but a late rally aligned with positive momentum.
• Turnover spiked above 1.714, indicating a high-stakes price action event during the 21:30–22:00 ET window.

IoTeX/Yen (IOTXJPY) opened at 1.667 on 2025-10-30 at 12:00 ET, surged to a high of 1.771, and closed the 24-hour period at 1.738 by 12:00 ET on 2025-10-31. The pair traded between 1.643 and 1.771 during the session, with total volume reaching approximately 10.46 million units and turnover reaching $17,853,895. Price action showed a strong consolidation phase followed by a sharp rally in the late evening.

The 15-minute chart displayed a bullish engulfing pattern near 1.714, followed by a strong reversal from the lower Bollinger Band. A key resistance level emerged near 1.738–1.747, which was tested twice during the session. The 20-period and 50-period moving averages crossed near 1.713, signaling a potential short-term bullish bias. On the daily chart, the 50-period MA at 1.695 provided a baseline of support, with the 200-period MA at 1.658 acting as a longer-term floor.

The MACD histogram turned positive in the final 6 hours of trading, confirming the late rally. RSI crossed above 60 and briefly peaked near 68, suggesting strong buyer interest, though it did not reach overbought territory. Volatility spiked as the Bollinger Bands widened from a contraction phase, with price closing near the upper band—a sign of strong conviction in the upward move. A 61.8% Fibonacci level at 1.738 aligned closely with the final close, suggesting a technical confirmation of the breakout.

The late-night volume surge between 21:30 and 01:30 ET was a critical catalyst. Notable buying pressure occurred at key psychological levels, especially between 1.714 and 1.732. A divergence was observed earlier in the session, where RSI peaked near 62 while price continued higher—this was later resolved with a closing above 1.732. The 1.695–1.714 range acted as a pivotal support zone, and the failure to retest it after the 21:30 breakout suggests strong short-term demand.

Backtest Hypothesis
A potential backtest strategy could be based on the observed overbought conditions and bullish momentum. Using RSI-14 as a signal, with an entry threshold at RSI > 70 and exit triggers of +5% take-profit or -3% stop-loss, could be effective for capturing momentum-driven rallies like the one seen on 2025-10-31. However, since RSI did not cross above 70 during this session, the strategy would have missed the strongest move. To address this, adjusting the entry to a tighter RSI threshold—such as 65–68—could have captured the late-night breakout. A key issue remains the lack of valid RSI data for IOTXJPY, making it necessary to confirm the correct ticker or consider using IOTXUSDT as a proxy.

Looking ahead, the next 24 hours may see a continuation of the bullish momentum, with a target of 1.747–1.755 if buyers maintain control. A close above 1.747 could trigger further expansion beyond the Bollinger Band. However, traders should remain cautious of a pullback near 1.727–1.732, where accumulation has been noted. Risk management is crucial, as a drop below 1.714 could reestablish bearish sentiment.