Market Overview for Internet Computer/Tether (ICPUSDT) – 24-Hour Analysis

Summary
• Price dipped from $3.09 to $2.955 amid high-volume bearish swings.
• A 50-period moving average on the 5-min chart acted as initial support.
• MACD diverged in the afternoon, indicating waning bullish momentum.
• Volume surged near the close, suggesting possible short-term consolidation.
• ICPUSDT remains within a key Fibonacci retracement range of 38.2–61.8%.

Internet Computer/Tether (ICPUSDT) opened at $3.082 on 2025-12-28 at 17:00 ET and closed at $2.955 by 12:00 ET on 2025-12-29. The price ranged between $3.094 (high) and $2.951 (low), with total trading volume reaching 653,603.53 and notional turnover of $1,829,676.91 over the 24-hour window.

Structure & Key Levels

The price formed a bearish engulfing pattern at $3.065 on 2025-12-28 18:30 ET, followed by a deep pullback. Support was temporarily found near $3.056, but the breakdown below $3.038 on 2025-12-29 09:45 ET led to further declines. Key resistance levels now appear to be $3.06–3.08, while $2.95–3.00 could offer near-term support.

Moving Averages and Momentum

The 20- and 50-period moving averages on the 5-min chart provided limited support between $3.045 and $3.056, but failed to halt the decline. MACD remained negative throughout the session, with bearish divergence visible in the afternoon hours, especially after $3.038. RSI bottomed near 30 at $2.955, signaling possible oversold conditions.

Volatility and Bollinger Bands

Volatility expanded significantly after 2025-12-28 18:15 ET, with price breaking down below the lower Bollinger Band and remaining there for the rest of the session. The contraction of bands earlier in the day (around $3.09–3.085) hinted at a potential breakout, which was confirmed in a bearish direction.

Volume and Turnover Dynamics

Trading activity was concentrated in the late afternoon and evening, with the largest single-candle volume of 103,621.16 at $3.063 on 2025-12-29 01:45 ET. Turnover and volume were well-correlated, but a divergence between price and turnover appeared near $2.99–3.00, suggesting possible short-term stabilization.

Fibonacci Retracements

Fibonacci levels based on the $3.094 (high) to $2.951 (low) swing show the 61.8% retracement near $3.006 and the 38.2% level at $2.976. The current price of $2.955 is near the 76.4% level, suggesting that further downside could be limited near $2.93 unless bearish momentum continues.

The market appears to be in a consolidative phase as it tests lower support levels. A potential rebound off the 38.2% retracement could offer a short-term buying opportunity, but buyers may need to show conviction above $3.038 to reverse the trend. Investors should remain cautious, as a breakdown below $2.95 could signal further weakness.