Market Overview: IQ/Tether (IQUSDT) 24-Hour Analysis

Summary
• Price declined sharply after forming a bearish engulfing pattern at 0.001711.
• RSI entered oversold territory near 0.00167, suggesting potential reversal.
• Volume surged during the breakdown below 0.0017, confirming bearish momentum.
• Price tested key support at 0.001600 and bounced, showing short-term resilience.
• Bollinger Bands show tightened volatility before the sharp drop, hinting at a breakout.

At 12:00 ET–1 on January 18, 2026, IQ/Tether (IQUSDT) opened at 0.001690, reached a high of 0.001716, and a low of 0.001542 before closing at 0.001607 at 12:00 ET on January 19. Total volume was 187,718,242.0, and turnover amounted to 309,393.45 USD.

Structure & Formations

Price formed a bearish engulfing pattern at 0.001711 during the early session, signaling a shift in sentiment. A key support at 0.001600 was tested in the final hours, with a potential rebound observed. A bearish breakout below 0.0017 confirmed a reversal in momentum.

Moving Averages

On the 5-minute chart, price closed below both 20- and 50-period moving averages, reinforcing bearish bias. Daily moving averages (50/100/200) were not provided, but the trend suggests a potential breakdown from key levels.

MACD & RSI

RSI dipped into oversold territory near 0.00167, hinting at possible reversal. MACD showed bearish divergence, with a strong negative crossover confirming the downward move.

Bollinger Bands

Volatility contracted before the sharp drop, indicating a potential breakout. Price settled near the lower band at the end of the session, suggesting continued bearish pressure.

Volume & Turnover

Volume spiked dramatically during the breakdown below 0.0017, confirming the move. Turnover diverged slightly in the final hour, as volume increased while price flattened, hinting at short-term uncertainty.

Fibonacci Retracements

The 0.001600 level corresponds to a key 61.8% retracement of the earlier rally from 0.001542 to 0.001716, making it a critical support to watch for potential follow-through.

Looking ahead, a rebound from the 0.001600 level may test 0.001620–0.001640, but a breakdown below 0.001600 could extend the move to 0.001570. Investors should watch for divergence in the RSI and volume for confirmation of trend continuation or reversal.