Market Overview: Internet Computer (ICPUSDT) – 24-Hour Summary (2025-08-05)

• Internet Computer (ICPUSDT) opened at $5.214 and closed at $5.266 after a volatile 24-hour session.
• A bullish breakout above the $5.25–$5.26 consolidation zone was confirmed with strong volume.
• RSI surged into overbought territory, suggesting short-term momentum may be exhausted.
• Volatility expanded as Bollinger Bands widened, indicating heightened trader activity.
• A key 61.8% Fibonacci level at $5.266 coincided with a close, reinforcing short-term bullish bias.

Internet Computer (ICPUSDT) opened at $5.214 on 2025-08-04 at 12:00 ET and closed at $5.266 on 2025-08-05 at 12:00 ET. The pair traded between $5.116 and $5.325 during the session, with a total volume of 668,382.7 and turnover of $3,384,847.90. Price action showed a strong push higher late in the session, ending with a bullish close near the upper Bollinger Band.

Structure & Formations

Price tested and broke above a key consolidation range between $5.25 and $5.26 during the session, with the breakout confirmed by strong volume and a bullish close. A notable bullish engulfing pattern formed around 2025-08-05 at 03:15 ET, as the price reversed from a low of $5.246 to a high of $5.299. A doji formed at 2025-08-05 07:45 ET, signaling potential exhaustion in the downward move. Support levels were identified at $5.215 and $5.187, with resistance at $5.266 and $5.280.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages trended upward, indicating a strong bullish bias. Price closed above both, suggesting continued buying pressure. On the daily chart, the 50-period and 100-period moving averages were in a bullish alignment, while the 200-period MA acted as a psychological floor. The 50-period MA crossed above the 100-period MA earlier in the week, reinforcing the bullish trend.

MACD & RSI

The MACD histogram showed a strong positive divergence, with the line crossing above the signal line and expanding, indicating growing bullish momentum. RSI surged above 70, entering overbought territory, which suggests a potential pullback may be imminent. However, the overbought condition did not trigger a sharp reversal, pointing to strong demand for ICP.

Bollinger Bands

Bollinger Bands expanded significantly during the session, especially after the price broke above the $5.25–$5.26 consolidation. The close near the upper band suggests a potential continuation of the bullish trend, though a retest of the lower band at $5.215–$5.220 could offer a strategic entry point for buyers.

Volume & Turnover

Volume spiked during the breakout at $5.26–$5.29, with the highest volume candle occurring at 2025-08-05 03:15 ET (18,785.72 volume). Turnover also increased in line with the price move, confirming the legitimacy of the bullish breakout. A divergence in volume occurred around 2025-08-05 07:15 ET, where price continued lower but volume dropped, signaling weakening bearish pressure.

Fibonacci Retracements

Applying Fibonacci retracements to the recent swing from $5.116 to $5.325, the 61.8% level at $5.266 aligned with the session’s closing price. This suggests that the move higher is structurally significant and may continue. A 38.2% retracement at $5.233 acted as a minor support zone during the consolidation phase.

While the 24-hour session showed strong bullish momentum and a confirmed breakout, traders should remain cautious as RSI is overbought and a short-term pullback is likely. A retest of $5.233–$5.240 could offer a low-risk entry for longs, but a failure to hold above $5.215 may trigger a deeper correction. Position sizing and stop-loss placement are key risk management considerations.