Market Overview for Internet Computer/Tether (ICPUSDT) – 2025-10-08

• ICPUSDT traded in a 4.423–4.48 range on 2025-10-08, closing at 4.464 with moderate volatility.
• Momentum shifted post-14:00 ET as RSI crossed neutral levels and MACD showed bullish divergence.
• Volume spiked during a 14:15–15:45 ET rally, confirming the strength of the 4.46–4.47 support zone.
• Bollinger Bands narrowed before the 15:00–16:00 ET breakout, signaling potential trend continuation.
• Key resistance appears at 4.48–4.49, with 4.45 acting as a strong near-term support zone.

Internet Computer/Tether (ICPUSDT) opened at 4.415 on 2025-10-07 at 12:00 ET and closed at 4.464 by 12:00 ET the following day. The 24-hour range was 4.355–4.469, with a high of 4.469 and a low of 4.355. Total volume for the period was 2,197,125 units, and total turnover reached approximately $9,689,000, reflecting strong participation and volatility expansion.

The structure of ICPUSDT's price action displayed a bullish bias from 08:00 ET onward, supported by the emergence of a key support zone between 4.42–4.44 and a consolidation phase near 4.46. A notable bullish engulfing pattern occurred at 08:30–09:45 ET, which signaled a shift in momentum. Resistance levels became apparent at 4.48–4.49, with a recent rejection observed at 15:00 ET. The 15-minute chart shows that the price has not yet broken above the 20- and 50-period moving averages but is closing the gap with rising momentum.

Structure & Formations

A bullish reversal pattern emerged around 08:30 ET, as the price broke above a descending trendline and closed a bearish candlestick with a long lower wick. This formation indicates buying pressure and a possible trend continuation. Support at 4.42–4.44 has been repeatedly tested and held, suggesting a critical floor for near-term bearish action. A potential bearish divergence appears at 04:00–06:00 ET, where price made a new low, but RSI did not confirm it, signaling mixed signals.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages are positioned around 4.43–4.44 and 4.44–4.45 respectively, indicating that the price is moving into bullish territory. The 50-period MA appears to be acting as a dynamic support line, with price staying above it for much of the day. On the daily chart, ICPUSDT is above both the 50-period and 200-period moving averages, suggesting a longer-term bullish trend is intact. A break above 4.48 would align with the 100-period daily MA, reinforcing the case for a continued uptrend.

MACD & RSI

The MACD crossed above the signal line around 09:00 ET and remained in bullish territory throughout the morning, confirming the rising momentum. A divergence appeared between 14:00–16:00 ET when price moved higher but MACD weakened slightly, suggesting potential overbought conditions. RSI climbed to 58–60 by 15:30 ET, moving into the overbought region and signaling potential profit-taking. A breakdown below 50 would indicate a return to neutral momentum, with a likely retest of the 4.44 support level.

Bollinger Bands

Volatility expanded significantly during the morning session, with Bollinger Bands widening as the price surged above the 4.45–4.46 range. By 10:00–11:00 ET, the bands had compressed, indicating a potential consolidation phase before the next directional move. Price closed near the upper Bollinger Band at 4.464, which suggests continued bullish pressure. A further push beyond 4.47 would likely trigger an expansion in volatility, potentially leading to a short-term breakout.

Volume & Turnover

Volume spiked during the 14:15–16:00 ET rally, confirming the strength of the 4.46–4.47 support zone and the 4.469 high. The notional turnover reached a peak of $9.69 million during this period, indicating significant buying interest. However, the volume dipped slightly during the 03:30–05:00 ET range, which could point to a weakening in bearish sentiment. A divergence between price and volume was observed around 06:00–08:00 ET, where price fell but volume remained elevated, suggesting a potential reversal.

Fibonacci Retracements

Applying Fibonacci retracements to the recent 15-minute swing from 4.355 to 4.469, the 38.2% level is at 4.419, the 50% at 4.412, and the 61.8% at 4.406. These levels appear to have acted as support during the morning consolidation phase. On the daily chart, the 61.8% Fibonacci retracement of a prior bearish move lies at 4.435, and the 50% at 4.447 has shown strong resistance. A break above 4.48 would test the 38.2% retracement level at 4.493.

Backtest Hypothesis

The backtesting strategy focuses on detecting bullish reversal patterns during consolidation phases, particularly the bullish engulfing and morning star formations. ICPUSDT displayed a clear bullish engulfing pattern at 08:30 ET, which followed a period of consolidation and volume expansion. These conditions align with the hypothesis that a reversal signal is most effective when accompanied by a break above key moving averages and confirmation from both RSI and MACD. A successful trade would have entered at 4.432 and closed at 4.464, capturing 0.032 per unit or approximately 7.3% in a 90-minute window.