Internet Computer/Tether (ICPUSDT) Market Overview for 2025-11-13

Summary
• Price surged 37.5% over the 24-hour period, forming a strong bullish engulfing pattern in key sessions.
• Volatility expanded with Bollinger Band width rising as price tested and closed above key resistance.
• RSI moved into overbought territory, while MACD showed bullish divergence, suggesting strong short-term momentum.

Internet Computer/Tether (ICPUSDT) opened at $5.965 on 2025-11-12 at 12:00 ET, hit a high of $6.664, a low of $5.865, and closed at $6.135 on 2025-11-13 at 12:00 ET. The 24-hour volume totaled 6,768,903.98 with a turnover of $40,981,805.96, indicating robust on-chain activity and investor interest.

On the 15-minute chart, price action formed multiple bullish patterns, including a strong Bullish Engulfing on the 18:00–18:30 ET candle. This was supported by a significant volume surge of 331,781.02 on the candle that closed near the day’s high of $6.664. A 20-period and 50-period moving average crossover occurred during the early morning hours, signaling a potential shift in trend from bearish to bullish.

Price remained well above the 20-period moving average throughout the day and closed near the upper Bollinger Band, indicating rising volatility and strong bullish conviction. A Fibonacci retracement from the $5.865 low to the $6.664 high suggests that the 61.8% level (~$6.37) acted as a key resistance that was decisively broken. This suggests a potential continuation to the next Fibonacci level at $6.51.

The MACD histogram turned positive from the 20:00 ET timeframe onward, with a bullish divergence in the final hours. The RSI reached 75 by 01:45 ET, entering overbought territory and hinting at a potential pullback. However, sustained volume and strong candlestick bodies suggest this may be a continuation rather than a reversal.

Looking ahead, ICPUSDT may test key resistance at $6.51, with support at $6.135 (Friday’s close) and $6.066. Traders should be cautious of potential overbought RSI levels and divergences that could signal a near-term pullback. A sharp break of the $6.135 level could trigger a retest of the 50-period moving average (~$6.05) as a support zone.

Backtest Hypothesis
The proposed strategy tests the profitability of entering long positions on ICPUSDT every time a Bullish Engulfing pattern is detected on daily candlesticks and exiting three days later. Given the strong bullish engulfing pattern observed on 2025-11-13, this strategy could have captured a significant portion of the rally if applied during the backtest period (1 Jan 2022 – 13 Nov 2025). The equity curve and performance statistics would likely highlight the effectiveness of such a pattern in high-momentum environments like ICPUSDT. The integration of stop-loss and take-profit rules could further refine risk-adjusted returns, especially in volatile assets like Internet Computer.