Internet Computer/Tether (ICPUSDT) Market Overview

• ICPUSDT surged from $4.107 to $4.398, forming bullish momentum and breaking key resistance.
• Volatility and volume spiked after 9:00 AM ET, confirming strength in upward moves.
• RSI reached overbought levels, while MACD showed bullish divergence with price.
• A large bullish engulfing pattern emerged near $4.25, followed by a strong continuation.
• Price pulled back into a Fibonacci 61.8% support zone but found buying interest at $4.35.

Internet Computer/Tether (ICPUSDT) opened at $4.112 on 2025-09-30 12:00 ET and closed at $4.370 on 2025-10-01 12:00 ET, with a high of $4.398 and a low of $4.107. Total volume reached 1,546,430.91, and notional turnover was $6,553,460.77. The 24-hour rally reflects strong bullish momentum following key breakout levels.

Structure & Formations

Price action displayed a series of bullish engulfing patterns starting at $4.25 and reinforced by a large bullish reversal at $4.289. A bearish harami formed briefly at $4.398 during consolidation, but buyers retook control. Key support levels include $4.318 and $4.25, while resistance remains at $4.40 and $4.45. A potential trading range from $4.31–$4.45 appears to be forming.

Moving Averages

On the 15-minute chart, the 20 SMA crossed above the 50 SMA, forming a golden cross, confirming the bullish trend. On the daily chart, the 50 SMA is approaching the 100 SMA, suggesting potential for a bullish crossover, while the 200 SMA remains a key long-term support level around $4.15.

MACD & RSI

The MACD crossed into positive territory and showed positive divergence with price during the early morning rally, suggesting continued upward bias. RSI peaked at 75, signaling overbought conditions, but remains within bounds due to strong follow-through buying.

Bollinger Bands & Volatility

Volatility expanded as the price broke out of a tight Bollinger Band contraction between $4.25 and $4.26, confirming breakout validity. Price closed near the upper band, indicating high conviction. A re-test of the lower band at $4.31–4.32 could confirm the strength of the current bullish trend.

Volume & Turnover

Volume surged during the early morning session, with notional turnover spiking at 9:00 AM ET during the breakout of the $4.25–$4.26 range. Price and turnover aligned during the move toward $4.398, showing strong conviction and liquidity. A divergence between price and volume during the consolidation phase may indicate a short-term pause but not a reversal.

Fibonacci Retracements

The recent $4.107–$4.398 swing produced a 61.8% retracement at $4.31–4.32, which price tested and bounced off. On the daily chart, the 50% and 61.8% retracement levels are aligned near $4.37–4.39, offering potential target zones for continuation or consolidation.

Backtest Hypothesis

Applying a golden cross on the 15-minute chart (20 SMA above 50 SMA) with confirmation by RSI above 50 and volume expansion provides a bullish trade setup. Exit triggers could include a death cross (20 SMA below 50 SMA) or a RSI drop below 50. A backtest of this strategy over the past 24 hours would have captured the move from $4.25 to $4.398 with a 4%+ return, assuming a 2% stop-loss below the entry price.

Looking ahead, ICPUSDT could test the $4.40–4.45 resistance cluster, with a potential retest of $4.31–4.32 as a near-term support. Traders should remain cautious of RSI overbought conditions and watch for bearish divergence in the MACD, which could signal a pullback. Volatility remains elevated, and sudden moves should be expected.