Market Overview for Internet Computer/Tether

Summary
• Price surged to $4.256 on strong volume during final 15-minute window.
• Key resistance appears at $4.05–4.06, with potential for retests.
• RSI shows overbought conditions in late trading, indicating possible pullback.
• Volume and turnover spiked 5–10x above earlier averages in final hours.
• Bollinger Bands expanded significantly during the final 3 hours of data.

Internet Computer/Tether (ICPUSDT) opened at $3.969 on 2026-01-17 12:00 ET and closed at $4.232 by 2026-01-18 12:00 ET, reaching a high of $4.316 and a low of $3.953. Total traded volume over 24 hours was approximately 3,868,441.55 ICP with a notional turnover of $16,179,166.81.

Structure & Candlestick Patterns

The 24-hour price action shows a bullish reversal from $3.953 on 2026-01-17 19:45 ET, where a small bearish candle was followed by a larger bullish engulfing pattern. Resistance appears at $4.05–4.06 and again at $4.25–4.26, while key support levels are at $4.00–4.01 and $3.97–3.98. A long-legged doji formed near $4.256 during the final 15-minute window, suggesting indecision.

Moving Averages

On the 5-minute chart, price closed above the 20-period and 50-period SMAs at the end of the 24-hour window, indicating short-term bullish momentum. On a daily basis, price appears above all major moving averages (50, 100, and 200), suggesting continued long-term strength.

MACD & RSI

The MACD crossed above the signal line in the final 3 hours of data, suggesting renewed bullish momentum. RSI moved into overbought territory, reaching as high as 75 in the last 15 minutes, indicating potential for a short-term pullback or consolidation.

Bollinger Bands

Volatility increased significantly during the final 3 hours, with Bollinger Bands widening and price reaching the upper band at $4.316. This suggests a period of heightened buying interest and possible continuation of the trend, though a retest of the middle band could occur.

Volume & Turnover

Volume and turnover both spiked sharply in the final 3 hours, with the last 15-minute window showing a volume of 494,957.66 ICP and a turnover of $2,111,253.67. This suggests strong conviction behind the rally. No notable divergence between price and turnover is observed, supporting the bullish narrative.

Fibonacci Retracements

Applying Fibonacci to the recent swing from $3.953 to $4.316, key retracement levels are at $4.146 (38.2%), $4.074 (50%), and $4.002 (61.8%). Price appears to have tested and rejected the 61.8% level in the early hours, indicating strength in the rally.

Forward-Looking View

The strong close near $4.232 may encourage further buying, particularly if key resistances at $4.25–4.26 are tested. However, the overbought RSI and long-legged doji suggest caution and a possible pullback in the near term. Investors should monitor volume behavior and Fibonacci levels for directional clues in the next 24 hours.