Market Overview for ICON/Tether (ICXUSDT): October 1, 2025

• ICON/Tether advanced 0.55% in 24 hours amid rising volume and consolidation near 0.116.
• A bullish breakout above 0.1165 confirmed momentum, with RSI signaling potential overbought conditions.
• Volatility expanded as Bollinger Bands widened, reflecting increased buying pressure.
• A large bullish candle at 0.1156–0.116 confirmed price action above key Fibonacci 61.8% level.
• Divergence in turnover and price was observed during early morning consolidation.

ICON/Tether (ICXUSDT) opened at $0.110 at 12:00 ET-1 and closed at $0.116 by 12:00 ET on October 1, 2025. The 24-hour period saw a high of $0.1168 and a low of $0.110. Total trading volume amounted to 1,211,092 ICX, while turnover reached $135,217.

Structure & Formations

The price of ICON/Tether displayed a strong upward trend in the latter half of the 24-hour period, with a notable bullish breakout from the 0.1156–0.116 range. This breakout confirmed a key support-turned-resistance level as a new floor. A large bullish candle with a long lower wick around 0.1156 signaled strong buying pressure. Later, a series of smaller bullish candles above 0.1165 suggested consolidation and a possible continuation of the rally. A doji near 0.1168 in the afternoon hinted at potential short-term exhaustion or indecision.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages both trended upward during the day, supporting the bullish momentum. The 50-period MA crossed above the 20-period MA at 0.116, reinforcing the strength in the move. On the daily chart, the 50-period, 100-period, and 200-period MAs all pointed higher, indicating a strong multi-timeframe alignment for further gains in the near term.

MACD & RSI

The MACD histogram turned positive and remained in the upper band, confirming bullish momentum, especially after 0.1165. The RSI climbed to 63 by the close, suggesting mild overbought territory. While not extreme, this signals a potential slowdown or pullback in the short term. A divergence between price and RSI during the consolidation phase suggested caution for overextension. Traders may watch for a RSI pullback below 55 as a potential sign of profit-taking.

Bollinger Bands

Bollinger Bands expanded significantly in the final hours of the period, reflecting growing volatility. The price moved from the lower band at 0.115 to the upper band at 0.1168, confirming a breakout. This widening of the bands implies a period of uncertainty or a shift in market sentiment. Traders may interpret this as a sign of a potential continuation if the price remains above the middle band (0.1159). A breakdown below the lower band would indicate renewed bearish pressure.

Volume & Turnover

Volume surged in the late morning and afternoon hours, particularly during the consolidation phase around 0.116–0.1165. This increase in volume supported the price action and signaled conviction in the bullish move. However, a divergence between the sharp price rally and relatively flat turnover after 0.1168 suggested that traders may have been locking in profits. The overall notional turnover also rose significantly, reinforcing the strength of the move.

Fibonacci Retracements

Applying Fibonacci retracements to the key swing from 0.110 to 0.116, the 61.8% level was at 0.114. The price held above this level and surged past it, confirming the strength of the move. The 50% retracement at 0.113 also served as a minor resistance that was quickly overcome. Traders watching for potential pullbacks should note the 38.2% level at 0.1138 as a possible area of support.

Backtest Hypothesis

A potential backtest strategy could involve entering long positions on a bullish breakout above the 50-period moving average on the 15-minute chart, with a stop loss placed below the previous consolidation range. Traders could target the upper Bollinger Band or the 61.8% Fibonacci level as take-profit points. Given today’s behavior, such a strategy would have been triggered around 0.116 and aligned with the momentum seen in both the RSI and MACD. This approach is best suited for short-term traders capitalizing on intraday volatility.