ICON/Tether Market Overview – 2025-09-26

• Price opened at $0.1136 and drifted down to a low of $0.1101 before closing at $0.1122 with a 24-hour high of $0.1136.
• A bearish correction was evident before buyers reasserted control in the latter half of the session.
• Total volume surged to 1.18M ICX, while turnover hit $138.1K, showing growing participation and interest.
• The RSI showed signs of easing momentum as it moved from oversold to neutral territory.
• Price tested lower Bollinger Band levels but failed to break below, suggesting a potential short-term support.

ICON/Tether (ICXUSDT) opened at $0.1136 on 2025-09-25 12:00 ET and closed at $0.1122 as of 2025-09-26 12:00 ET, reaching a 24-hour high of $0.1136 and a low of $0.1101. The pair traded on a total volume of approximately 1.18 million ICX, translating into a turnover of about $138.1K. Price action reflected a tug-of-war between bearish and bullish forces, with a key consolidation forming near $0.1118.

Structure & Formations

Price action in the 24-hour period revealed a bearish correction from $0.1136 to a low of $0.1101, which was followed by a steady rebound. A bearish engulfing pattern formed around $0.112–$0.1114, suggesting short-term selling pressure. However, a bullish reversal pattern emerged in the final hours, with a series of higher highs and higher lows consolidating near $0.112. Notable support was identified at $0.1105, which was tested multiple times without a decisive break. A bearish doji appeared near $0.1103, signaling indecision among market participants.

Moving Averages

On the 15-minute chart, the 20-period moving average (SMA) is currently at $0.1117, and the 50-period is at $0.1113, suggesting a slight bearish bias in the shorter term. On a broader scale, the daily 50-period SMA is at $0.1125 and the 200-period at $0.1129, indicating that the market is approaching a potential confluence zone. This suggests that any further bearish movement may face resistance, while a break above $0.1129 could signal a shift in momentum.

MACD & RSI

The MACD line crossed below the signal line during the early part of the session, confirming bearish momentum, but later reversed with a positive divergence. The RSI moved from 28 in the early morning to 52 by the close of the session, indicating that oversold conditions were easing and suggesting a potential short-term bottoming process. However, RSI is still below 60, implying caution before taking bullish positions. A move above 61.8% Fibonacci at $0.1137 would be needed to confirm a sustained bullish trend.

Bollinger Bands

Price touched the lower Bollinger Band at $0.1101 but failed to close below it, suggesting that the band acted as a support rather than a breakout zone. The recent volatility contraction, with a narrowing band width, indicates a period of consolidation. A breakout above the upper band at $0.1125 would signal an increase in volatility and potential continuation of the upward trend.

Volume & Turnover

Volume and turnover were both elevated during the consolidation phase around $0.1114–$0.1122, suggesting increased buying interest. The largest single 15-minute candle occurred at 19:00 ET (2025-0925), where price dropped to $0.1114 on high volume. This could indicate a short-covering move. There was a notable divergence between price and volume during the morning session, where price fell without a significant volume increase, signaling weak bearish conviction.

Fibonacci Retracements

Applying Fibonacci retracement levels to the recent swing from $0.1136 to $0.1101, key levels include 38.2% at $0.1122 and 61.8% at $0.1117. The current price of $0.1122 aligns with the 38.2% retracement level, making it a potential pivot point. A break above $0.1122 could lead to a test of the 61.8% retracement at $0.1127, which may offer a better risk-reward setup for long positions.

Backtest Hypothesis

Applying a mean-reversion strategy on the 15-minute chart with a 30-period RSI and a 20-period EMA crossover could yield useful insights. When RSI falls below 30 and price crosses below the EMA, a short entry may be considered, with a stop loss placed at the recent high and a target at the 38.2% Fibonacci level. Conversely, when RSI rises above 70 and price crosses above the EMA, a long position could be entered, with the stop loss at the recent low and the target at the 61.8% retracement. This hypothesis aligns with the observed price behavior around $0.1101 and $0.1122 and may offer a structured approach for traders seeking to exploit the current consolidation phase.