Market Overview: Internet Computer/Tether (ICPUSDT) on 2025-09-18

• Internet Computer/Tether (ICPUSDT) closed near the day's high, showing bullish momentum after a prolonged consolidation phase.
• Key resistance appeared to form around 4.88–4.90, with price failing to hold above this level on multiple attempts.
• A strong increase in notional turnover and volume confirmed the breakout from the 4.83–4.85 support range.
• RSI suggested overbought conditions near the 4.90 level, hinting at potential short-term profit-taking.
• A potential 50% Fibonacci retracement level lies at 4.86, offering short-term support if the trend reverses.

Internet Computer/Tether (ICPUSDT) opened at 4.673 on 2025-09-17 at 12:00 ET, reached a high of 4.914, and closed at 4.896 on 2025-09-18 at 12:00 ET. The 24-hour volume was 4,865,879.23, with a notional turnover of $24,284,835.85.

The price of ICPUSDT formed a clear bullish breakout from a defined consolidation range between 4.83 and 4.85, with a decisive move upwards confirmed by increased volume and turnover. The formation of a bullish engulfing pattern around 4.83–4.85 marked the start of the rally. Key support levels appear to be forming at 4.83 and 4.75, with the 4.86–4.88 zone acting as a minor resistance cluster.

Structure & Formations

During the session, ICPUSDT displayed a strong bullish bias, breaking above a consolidation pattern and forming multiple bullish continuation patterns. A key 50% Fibonacci retracement level was confirmed around 4.86, and price tested this level twice. A doji formed near 4.90, signaling possible exhaustion and a reversal could be in the making. The 4.88–4.90 zone appears to be a critical area for near-term directional clarity.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages crossed above key support levels, reinforcing the bullish bias. On the daily chart, the 50-period moving average is approaching the 4.85–4.88 range, where a potential crossover could confirm a longer-term uptrend.

MACD & RSI

The MACD showed a positive divergence, aligning with the bullish price action as momentum increased during the session. RSI pushed into overbought territory near the 70 level, particularly after the 4.90 high, suggesting traders may start taking profits or hedging positions.

Fibonacci Retracements

A key 38.2% retracement level lies at 4.83, which was tested and held during the session. The 61.8% level is at 4.86 and could act as a pivot point for near-term price direction. A breakdown below 4.83 could lead to retesting of 4.75.

Bollinger Bands

Price remained near the upper Bollinger Band for much of the session, suggesting a period of high volatility and bullish momentum. A contraction in volatility was observed in the early part of the session, followed by a sharp expansion as price broke out of the consolidation range.

Volume & Turnover

Volume spiked during the breakout phase, especially between 4.85 and 4.90, with the highest volume recorded at 72,516.18 units during the 13:45 candle. Notional turnover increased significantly during the 11:15–11:45 window, confirming the strength of the price move. No major divergence between price and volume was observed, supporting the continuation of the bullish trend.

Backtest Hypothesis

A potential backtest strategy would involve using a bullish breakout entry once ICPUSDT closed above 4.85, with a stop-loss placed below 4.83 and a target near 4.90–4.92. Given the confirmation of volume and momentum, this strategy could have captured much of the 4.83–4.90 move during the session. A trailing stop could be applied as price approaches the 4.90–4.92 level to lock in gains.