Internet Computer/Tether (ICPUSDT) Market Overview

Summary
• ICPUSDT rallied to a 24-hour high of $7.176 before consolidating, with a 46% gain from the prior day’s open.
• High volatility is evident with a $2.09 range, driven by surging volume and a $4.5M increase in turnover.
• Momentum accelerated after 10:00 ET, with a bullish breakout above the 5.922-6.166 range followed by a sharp 15-minute pullback.

The 24-hour session for Internet Computer/Tether (ICPUSDT) opened at $5.105 on 2025-11-05 12:00 ET and closed at $6.796 by 12:00 ET on 2025-11-06. The pair reached a high of $7.176 and a low of $5.08. Total volume traded over the 24 hours was 10,042,185.65, with notional turnover amounting to $58.6 million. The price surged past key resistance levels starting at $5.922 and $6.166, with a sharp retracement following a 15-minute peak at $7.176.

Structure & Formations

The price action formed a strong bullish breakout pattern as ICPUSDT broke above the $5.922 and $6.166 resistance levels. A long-bodied candle formed at $6.843–$6.556, followed by a bearish engulfing pattern at $6.843–$6.787 after a 15-minute peak. This suggests a potential short-term pullback. Key support levels appear to be at $6.556 (post-6.843 consolidation), and $6.353 (major Fibonacci 61.8% retracement).

Moving Averages

On the 15-minute chart, the 20-period MA crossed above the 50-period MA at $6.053, confirming a bullish bias. The 50-period MA at $6.299 and the 100-period MA at $5.896 suggest that the trend has recently accelerated. On the daily chart, the 200-period MA at $4.62 and the 100-period MA at $5.36 indicate a long-term bullish setup for ICPUSDT.

MACD & RSI

The MACD (12,26,9) showed a bullish crossover with the signal line at +0.189 and a histogram expansion of +0.139, indicating strengthening momentum. RSI(14) reached 70 during the peak at $7.176, signaling overbought conditions. However, the fast RSI at 61.2 suggests continued buying pressure.

Bollinger Bands

Volatility expanded significantly as the 20-period Bollinger Bands widened from a $0.36 range to $1.20. Price peaked at the upper band at $7.176 and quickly retracted to within the bands at $6.556–$6.843. This suggests a potential test of the upper band again in the next 24 hours.

Volume & Turnover

Volume surged at the peak, with a 15-minute bar at 1,053,531.4, the largest in the 24-hour window. Notional turnover spiked from $1.4M to $4.5M during this period, confirming the strength of the breakout. Divergence appears at the $7.176 peak, where volume and price spiked, but RSI and MACD suggest potential exhaustion.

Fibonacci Retracements

On the 15-minute chart, price retested the 61.8% Fibonacci retracement level at $6.353 after a $6.556–$6.843 move. Daily Fibonacci levels suggest a potential target of $7.50 from the $5.08–$7.176 swing, with 38.2% at $6.02 and 50% at $6.30.

Backtest Hypothesis

To assess the viability of trading ICPUSDT based on the observed RSI and MACD dynamics, a backtesting strategy would need RSI-14 values and daily OHLCV data for ICPUSDT from 2022-01-01 to 2025-11-06. Due to a data-provider issue, the RSI series could not be retrieved. Before proceeding, consider: (1) using an alternative data source or symbol format (e.g., ICP/USDT on BYBIT), (2) providing the local RSI-14 or OHLCV data file, or (3) narrowing the date range to reduce data depth requirements. These steps will enable a robust backtest of the identified signals.