Market Overview for ICON/Tether (ICXUSDT) on 2025-12-21

Generated by AI AgentAinvest Crypto Technical RadarReviewed byAInvest News Editorial Team
Sunday, Dec 21, 2025 1:15 pm ET2min read
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- ICON/Tether (ICXUSDT) traded between $0.0526 and $0.0554, failing to hold above the 61.8% Fibonacci retracement at $0.0536.

- Sharp early-volume spikes and bearish candlestick patterns confirmed downward momentum, with price closing near the lower Bollinger Band.

- RSI dipped below 30 into oversold territory without triggering a rebound, while MACD confirmed bearish bias as moving averages trended lower.

- Key support at $0.0531 and $0.0526 remains critical, with further downside potential if the breakdown holds amid elevated volatility.

Summary
• ICON/Tether traded in a 24-hour range between $0.0526 and $0.0554 with key support around $0.0531.
• Price failed to hold above 61.8% Fibonacci retracement of the last 5-min rally, hinting at bearish bias.
• Volume spiked sharply during the early hours of the 24-hour period, confirming bearish momentum.
• Bollinger Bands expanded as volatility increased, with price closing near the lower band.
• RSI dipped below 30 mid-day, indicating oversold conditions that may not yet guarantee a reversal.

ICON/Tether (ICXUSDT) opened at $0.0549 on 2025-12-20 at 12:00 ET and closed at $0.0534 on 2025-12-21 at 12:00 ET, reaching a high of $0.0554 and a low of $0.0526. The total volume across the 24-hour period was 1,593,092.8 ICX, with notional turnover amounting to $79,654.60.

Structure and Formations


Price action on the 5-minute chart showed a bearish breakdown after a late-night consolidation phase, with a large bearish candle forming around 13:30 ET. A doji formed at $0.0541 shortly after the 14:00 ET mark, signaling indecision. Support levels emerged at $0.0531 and $0.0526, with the latter being tested and briefly broken. The 61.8% Fibonacci retracement of the $0.0526 to $0.0554 swing sits at $0.0536, which the price failed to hold above, suggesting further downside could be in play.

Moving Averages and Momentum


The 5-minute 20-period and 50-period moving averages trended lower throughout the session, confirming the bearish bias. On the daily chart, the 50/100/200 MA structure showed a flattening of the 200 MA, indicating no strong directional momentum. The MACD line crossed below the signal line during the early part of the session, suggesting a shift to bearish momentum. The RSI hit oversold territory (below 30) around 11:00 ET, though this did not result in a meaningful rebound, which could indicate a continuation of the downward trend.

Volatility and Bollinger Bands


Bollinger Bands expanded significantly during the early hours of the 24-hour period, coinciding with the sharp volume spike. Price remained within the bands for most of the session but closed near the lower band at $0.0534. This suggests that while volatility is elevated, the market is still within a defined range. The lack of a break above the upper band indicates that bullish conviction remains weak.

Volume and Turnover


Volume saw a sharp increase at the start of the session, peaking around 13:30 ET with a large bearish candle on $0.0531. This volume spike confirmed the bearish move. Later in the session, volume dropped off as price traded in a tight range. Notional turnover mirrored volume, with the highest turnover seen in the first three hours. No significant divergence between price and turnover was observed, suggesting the bearish move was backed by liquidity.

ICON/Tether may continue to test key support levels in the coming 24 hours, with a potential target at $0.0526 if the breakdown holds. However, traders should watch for any reversal signs near $0.0531 and remain cautious about increased volatility around Fibonacci levels.