Market Overview for IQ/Tether (IQUSDT) on 2025-10-09

• Price of IQ/Tether (IQUSDT) broke above the 0.003145 resistance and saw a 24-hour high of 0.003199.
• Volume spiked dramatically around 03:00 ET, coinciding with a breakout on the 15-minute chart.
• RSI hit overbought territory multiple times, indicating potential for a near-term pullback.
• Bollinger Bands widened significantly during the peak volatility phase, signaling heightened uncertainty.
• A bullish engulfing pattern formed on the 15-minute chart at the peak of the rally, suggesting short-term buying pressure.

The IQ/Tether pair (IQUSDT) opened at 0.003114 on 2025-10-08 at 12:00 ET and closed at 0.003093 on 2025-10-09 at 12:00 ET. The price action reached a high of 0.003199 and a low of 0.003089 over the 24-hour period. Total volume was 224,220,627.0 and notional turnover amounted to approximately 696.19 (based on IQ volume weighted average price). The pair showed strong intraday momentum but ended the period slightly below the opening level, reflecting a volatile session.

Structure & Formations

Price action showed a strong bullish impulse between 02:45 ET and 04:00 ET, with a peak at 0.003199. This was supported by a bullish engulfing pattern on the 15-minute chart and a strong break above the 0.003145–0.003148 resistance cluster. A key support level emerged at 0.00311–0.003114, which held during the late afternoon sell-off. A doji formed at 0.003145 at 20:00 ET, suggesting short-term indecision. These levels could serve as reference points for traders in the coming session.

Moving Averages

On the 15-minute chart, the 20-period MA crossed above the 50-period MA at 02:45 ET, confirming a short-term bullish bias. The 50-period MA moved above 0.003135 and acted as dynamic support during the selloff. On the daily timeframe, the 50-period MA sits at approximately 0.003125, and the 200-period MA at 0.003118, suggesting the pair may remain above long-term averages despite the recent pullback.

MACD & RSI

MACD showed a strong positive crossover and divergence at 02:45 ET, confirming the bullish breakout. However, the RSI hit overbought levels multiple times above 70, most notably at 03:15 ET, suggesting potential for a correction. The RSI later fell below 50 during the late afternoon selloff, confirming the bearish pressure. Traders may watch for RSI retests of key levels as potential reversal signals.

Bollinger Bands

Bollinger Bands expanded significantly during the breakout phase between 02:45 ET and 03:30 ET, with the price moving well above the upper band. This indicated a period of high volatility. As the price pulled back, it fell back within the bands and closed near the lower band at 0.003093, suggesting a possible short-term bottom may be forming. Traders may watch for a rebound from the lower band in the next 24 hours.

Volume & Turnover

Volume surged dramatically during the breakout phase, with a single 15-minute bar at 03:00 ET registering over 6,794,591 in volume, the highest of the session. This volume surge supported the price increase and confirmed the move. However, volume declined during the pullback, indicating a lack of follow-through. Notional turnover spiked in tandem, reaching a high of nearly 2,032,227.9 at 03:00 ET. The volume/price divergence in the final hours of the session may suggest waning conviction.

Fibonacci Retracements

Applying Fibonacci levels to the 0.003089–0.003199 swing, the 0.382 retracement level is at 0.003151, while the 0.618 level is at 0.003123. The price found temporary support near the 0.618 level during the late afternoon sell-off, suggesting that a bounce may be possible from this level. On the daily chart, the 0.618 retracement of the previous week's range aligns with 0.003135, offering another potential support target.

Backtest Hypothesis

The backtesting strategy focuses on identifying breakout patterns on the 15-minute chart when both volume and MACD divergence confirm the move. A long entry would be triggered on the close above the 0.003145 resistance with a stop-loss placed below the 0.003110 support level. A target would be set at the 0.003173–0.003178 range, aligning with both RSI and Fibonacci levels. Traders may find this strategy effective for short-term directional bias, though the high volatility in this pair requires tight risk management and real-time monitoring.