Market Overview: Internet Computer/Tether (ICPUSDT) – 24-Hour Action Summary

• ICP/USDT opened at $4.357 and closed at $4.363, with a 24-hour high of $4.414 and low of $4.246
• Price retraced to key support near $4.311 before rallying, with bearish 15-minute dojis observed in early trading
• RSI entered oversold territory below 30 at $4.246, later recovering to neutral levels near 50
• Volatility expanded during the 4:15–5:00 ET session, with a $105,983.8 notional turnover spike
• MACD showed bearish divergence in the $4.31–$4.34 range, but bullish crossover occurred near $4.37

15-Minute Candlestick Summary and Key Levels

Internet Computer/Tether (ICPUSDT) opened at $4.357 (12:00 ET − 1) and closed at $4.363 by 12:00 ET, with a daily high of $4.414 and low of $4.246. Total volume over the 24-hour window was 1,088,426.61 ICP, and notional turnover reached $4,690,925.14. The price action revealed a strong bearish reversal at $4.311, followed by a consolidation into a bullish wedge formation between $4.311 and $4.414. A significant 15-minute doji formed near $4.33 at 19:30 ET, signaling indecision after a sharp decline.

Key support levels appear at $4.311 (38.2% Fibonacci retracement from the $4.246–$4.414 swing), with $4.293 as a deeper test area. Resistance is found at $4.364 (50% retracement) and $4.375–$4.39 (bearish trendline and prior consolidation peaks).

Moving Averages and MACD Momentum

The 15-minute 20-period moving average moved through key levels, supporting a short-term bullish tilt from $4.35. The 50-period MA acted as a minor resistance during the morning pullback. MACD showed bearish divergence in the $4.31–$4.34 range but then crossed above the signal line near $4.37, confirming a shift in momentum. A bearish MACD histogram contraction was noted in early morning trading, aligning with the $4.246 low.

RSI oscillated between oversold (30) and overbought (70) levels multiple times, with a strong overbought signal at $4.395–$4.40 in the early afternoon. Bollinger Bands showed moderate volatility (1.8 standard deviations at $4.35–$4.40) with price hovering near the upper band during the final 6 hours of the window.

Volume, Turnover, and Fibonacci Dynamics

Volume spiked at $4.246 with 105,983.8 notional turnover, indicating strong selling pressure. However, volume normalized afterward, supporting a potential short-term bottoming process. A bearish volume divergence appeared during the $4.34–$4.36 range, suggesting accumulation at lower levels.

Fibonacci retracements on the $4.246–$4.414 swing highlighted key levels at $4.311 (38.2%), $4.34 (50%), and $4.364 (61.8%). Price has since tested the 61.8% level twice without breaking above, suggesting it may act as a near-term ceiling.

Backtest Hypothesis

A potential backtesting strategy involves entering long positions on a bullish MACD crossover above the 15-minute 20-period MA, with a stop-loss placed below the 38.2% Fibonacci retracement. A take-profit target could be set at the 61.8% level or the upper Bollinger Band. This setup appears most effective in low-volume accumulation phases, such as the 5:30–7:00 ET session, where price tested support and began a consolidation.