Market Overview for Internet Computer/Tether

Summary
• Price action saw a 5.7% rebound from a key support level near $2.88 to a 24-hour high of $3.033.
• Volume surged by 62% in the final 6 hours, aligning with the final $3.00–$3.033 breakout.
• RSI signaled overbought territory late, suggesting potential for consolidation or pullback.
• Bollinger Bands showed a recent expansion, reflecting increased volatility.

Internet Computer/Tether (ICPUSDT) opened at $2.921 on 2025-12-19 at 12:00 ET, reached a high of $3.033, dipped to a low of $2.88, and closed at $3.002 by 12:00 ET on 2025-12-20. Total volume was 1,646,029.5 and notional turnover was $4,837,177.17 over 24 hours.

Structure & Formations

The price found strong support at $2.88, rebounding with a bullish engulfing pattern. Resistance emerged at $3.00–$3.033, where a series of higher highs suggested possible consolidation. A long-legged doji near $3.002 indicates indecision among traders.

Moving Averages

The 5-minute chart showed a clear break above the 20- and 50-period MAs in the final 6 hours, suggesting short-term bullish momentum. On the daily chart, the 50-period MA remains above the 200-period MA, indicating a longer-term uptrend.

MACD & RSI

The 5-minute MACD crossed above zero and remained in positive territory, aligning with bullish momentum. RSI rose into overbought territory (>70) during the final 4 hours, raising the possibility of a near-term retracement.

Bollinger Bands

Volatility expanded during the breakout phase, with the bands widening from ~$0.02 to ~$0.04. Price closed near the upper band at $3.002, indicating strong near-term momentum but also potential for a pullback toward the middle band.

Volume & Turnover

Volume increased sharply after 13:00 ET, with the highest 5-minute volume spike at $2.982–$3.002. Notional turnover increased in line with price, showing no major divergences. The final 6 hours accounted for nearly 45% of total volume.

Fibonacci Retracements

A key 5-minute retracement level at 61.8% ($2.966) held during the consolidation phase before the breakout. On the daily chart, the 50% Fibonacci level at $2.975 acted as a minor support during the early morning phase.

The sharp move above $3.00, supported by strong volume, suggests further upside could be in play in the near term. However, with RSI signaling overbought levels, a pullback into $2.95–$2.97 could be a likely short-term target. Traders should monitor for a breakdown below $2.95 or a rejection above $3.03 for directional clarity.