Market Overview: Internet Computer (ICPUSDT) 24-Hour Analysis

• Internet Computer (ICPUSDT) posted a -7.5% decline over 24 hours amid bearish momentum and key support tests.
• Price broke below 5.08, with a key 5.05–5.07 consolidation range now at risk of breakdown.
• RSI and MACD confirm bearish bias with no signs of near-term oversold conditions.
• Volatility increased in mid-session before tapering off, with volume skewed toward downward moves.
• A key 15-minute bearish engulfing pattern emerged at 5.08, signaling potential for further weakness.

Internet Computer (ICPUSDT) opened at $5.08 on 2025-08-05 12:00 ET and closed at $5.057 at 12:00 ET on 2025-08-06. The pair reached a high of $5.151 and a low of $4.946 during the period. Total trading volume stood at 568,972.32 ICP, with a notional turnover of $2,867,939.34 over the 24-hour period.

Structure & Formations

The 15-minute chart shows a bearish breakout from the 5.08–5.10 consolidation range, with a key bearish engulfing pattern at 5.08 marking the turn. The 5.05–5.07 level has become an immediate support zone, and a break below 5.03 could expose the 4.99 psychological level. A 15-minute doji formed at 5.037, suggesting indecision, but bearish continuation appears likely without a strong reversal candle.

Moving Averages

Price closed below both the 20- and 50-period moving averages on the 15-minute chart, confirming the bearish bias. The 50-period daily moving average sits near 5.04, aligning with current support. A break below this level could see price pull back toward the 200-day average at approximately 4.96.

MACD & RSI

MACD turned negative and remains bearish, with a growing bearish divergence forming as price consolidates near 5.05. RSI stands at 34, indicating oversold conditions are not yet triggered. However, bearish momentum remains intact, and a rebound should be treated cautiously for potential follow-through selling.

Bollinger Bands

Price tested the lower Bollinger band at 4.946 and subsequently bounced, but the bounce lacks conviction. The 20-period band width has widened over the last 3 hours, reflecting increased volatility during the selloff. A sustained move above the 5.06 midline may be needed to reverse the bearish narrative.

Volume & Turnover

Volume spiked during the 19:00–20:00 ET selloff and again at 05:30–05:45 ET as price approached 5.06. Turnover correlated closely with volume, indicating strong liquidity. A divergence between volume and price near 5.057 suggests weak follow-through and limited upside potential.

Fibonacci Retracements

Applying Fibonacci to the recent swing high of 5.151 and the low of 4.946, the 5.05 level corresponds to the 38.2% retracement. A break below this would target the 61.8% level at 5.00. On the 15-minute chart, the 5.07–5.09 range marks key resistance levels.

Price may test 5.03 in the near term, with a potential rebound possible if 5.05 holds. However, a breakdown would signal a continuation toward 4.99 or even 4.96. Investors should watch for a decisive bullish reversal at 5.07 to re-engage long positions, while managing downside risks below 5.05.