Market Overview for Internet Computer/Tether (ICPUSDT) – 24-Hour Analysis

• Internet Computer/Tether (ICPUSDT) traded in a bullish consolidation pattern, with key resistance forming near $4.87–4.88.
• Momentum remained positive throughout the day, with RSI trending away from overbought conditions and MACD divergence narrowing.
• Volatility increased sharply mid-day, with volume surging on the $4.82–4.88 range as bulls defended recent gains.
• Price tested a 61.8% Fibonacci level at $4.80, then rebounded toward a 38.2% retracement at $4.83–4.84.
• A potential bearish correction appears to be forming after a failed attempt to push above the $4.88 level.

Internet Computer/Tether (ICPUSDT) opened at $4.673 on 2025-09-17 at 12:00 ET, reaching a high of $4.884 and a low of $4.651 before closing at $4.81 at 12:00 ET on 2025-09-18. Total volume traded was 1,386,684.69 ICP, with a notional turnover of $6,468,206.24 USD over the 24-hour period.

Structure & Formations

Price action over the last 24 hours formed a clear bullish consolidation pattern following a strong rally from the $4.66–4.68 support zone. A notable engulfing bullish candle appeared at 19:15 ET, pushing the price from $4.686 to $4.713. This was followed by a series of higher highs and higher lows, forming a rising wedge that reached a temporary peak at $4.88. Key resistance now appears to be forming around $4.87–4.88, with the 61.8% Fibonacci retracement level at $4.80 providing strong support. The $4.75–4.76 level also acted as a secondary support, with several bullish continuation patterns observed during price retracements.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages are both trending upward, with the 20-period line running ahead of the 50-period line, indicating a strong bullish bias. The 50-period line remains well above the 200-period line, reinforcing the long-term bullish structure. However, a potential divergence is forming in the last few hours as the price has pulled back slightly toward the 50-period line, suggesting a possible short-term pullback.

MACD & RSI

The MACD has remained positive throughout the day, with the histogram expanding as bullish momentum increased. The RSI, while still above 50, has started to trend lower after reaching a peak near 70, suggesting that overbought conditions may be easing. However, the divergence between the RSI and price action in the last two hours is worth monitoring. A potential bearish reversal could be triggered if RSI dips below 55 while price remains above the 4.83 level.

Bollinger Bands

Volatility saw a clear expansion during the 19:00–22:00 ET window, with the price pushing the upper Bollinger Band to $4.88 and $4.884. This suggests a period of high conviction from buyers. The recent pullback has brought price back toward the middle band, where it appears to be consolidating. A continued move outside the upper band would confirm a new bullish trend, but the current pullback within the bands may indicate a consolidation before the next move.

Volume & Turnover

Volume increased significantly during the 19:00–22:00 ET period, with a sharp spike on the $4.85–4.88 range, indicating strong buying pressure. The notional turnover reached its highest point at $4.884 with a 15-minute volume of $1.05 million. A divergence is now forming in the last two hours, where volume has decreased despite price holding above $4.81. This could be a sign of weakening momentum or a potential consolidation phase.

Fibonacci Retracements

Applying Fibonacci levels to the last 15-minute swing from $4.651 to $4.884, the 61.8% retracement level is at $4.80 and has acted as a strong support. The price bounced off this level and has since tested the 38.2% retracement at $4.83–4.84. On the daily chart, the 50% Fibonacci level at $4.76 is currently acting as a key psychological support level.

Backtest Hypothesis

Given the current technical environment, a potential backtest strategy could focus on the 38.2%–61.8% Fibonacci zone as a high-probability area for continuation or reversal. The strategy would involve entering a long position on a breakout above the 38.2% level ($4.83–4.84) with a stop-loss just below the 61.8% level ($4.80). The take-profit target would be aligned with the 50-period moving average and the upper Bollinger Band, aiming for $4.88–4.89. This setup leverages the recent bullish structure and the confluence of key technical levels. The MACD and RSI divergence should be used as a cautionary signal to adjust stop-loss levels if a pullback is detected.