Market Overview: IOTXJPY – 2025-10-24

• Price opened at 1.778 and surged to 1.8 before consolidating near 1.795 by 12:00 ET.
• Volatility spiked early, with a sharp 1.778–1.8 range, followed by consolidation.
• Turnover remained low until midday, with significant volume surges post-03:15 ET.
• A potential bullish reversal pattern emerged near 1.762, followed by a rebound to 1.798.
• RSI and MACD showed neutral to mildly bullish momentum, with no clear overbought/oversold signals.

On 2025-10-24 at 12:00 ET, IoTeX/Yen (IOTXJPY) opened at 1.778, reached a high of 1.8, touched a low of 1.762, and closed at 1.795. Total traded volume was approximately 780,554.0 units, with a notional turnover of roughly 1,408,133.2 JPY (calculated from OHLCV data). The session showed a volatile start, followed by a gradual consolidation into a defined range.

Structurally, the pair formed a sharp intraday high of 1.8 after a morning push from 1.778, followed by a pullback to 1.772 and a strong rebound. A notable bullish reversal pattern was observed at 1.762 (2025-10-23 214500), where a bearish candle at 1.772 followed by a strong bullish reversal candle closed at 1.798. This suggests a potential short-term bottoming process. Resistance levels formed at 1.8 and 1.798, while support appears to be consolidating around 1.772–1.779.

The 20 and 50-period moving averages on the 15-minute chart indicate a sideways bias, with the 50-period line hovering just below 1.785. The 100-period daily MA would provide a longer-term reference point for trend direction. MACD showed a bullish crossover in the morning, but momentum has since normalized. RSI remains in the mid-40s to 60s, indicating moderate bullish momentum without overbought conditions. Bollinger Bands have widened from a tight midday consolidation to reflect the recent volatility, with price trading slightly above the 20-period upper band.

Looking at Fibonacci retracements, key levels from the 1.778–1.8 swing show 38.2% at 1.790 and 61.8% at 1.786, with the close near 1.795 suggesting a possible retest of the 61.8% level. Volume activity intensified around 03:15 ET, where the price dipped to 1.779 and rebounded, indicating strong buying interest. However, turnover and volume diverged in the late morning and early afternoon, suggesting some profit-taking and uncertainty.

Backtest Hypothesis: Given the observed bullish reversal pattern near 1.762 and the moderate RSI momentum, a potential backtest strategy could be based on a “Bullish Engulfing” pattern. For this, we would need a valid ticker symbol that supports the necessary historical OHLCV data. Since the current IOTXJPY symbol is not recognized by the backtest tool, we recommend switching to an alternative such as IOTXUSDT or a specific exchange symbol if available. Assuming the signal entry is set at the next day’s open after a confirmed pattern, and using a 3-day holding period, the strategy would aim to capture a potential rebound from key support levels like 1.772–1.779. Transaction costs and slippage can be assumed at 0.1% to simulate real-world conditions, with a full-position entry on each confirmed signal. Please confirm your preferred ticker and strategy parameters so we can proceed with data retrieval and pattern detection.