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

• Internet Computer/Tether (ICPUSDT) declined to a 24-hour low of $4.042 before rebounding to close at $4.099.
• Momentum remained mixed with RSI near neutral levels and MACD indicating a potential bearish bias.
• Volatility increased mid-day as price dropped sharply into the lower Bollinger Band, then retraced.
• A large volume spike of 126,676.25 ICP occurred at the close, suggesting short-term accumulation or distribution.
• The 24-hour candle closed near the middle of the range, with no clear reversal patterns emerging.

Internet Computer/Tether (ICPUSDT) opened at $4.156 on 2025-09-25 at 12:00 ET and closed at $4.099 on 2025-09-26 at 12:00 ET. The price reached a high of $4.158 and a low of $4.042 during the 24-hour period. Total trading volume was 1,883,668.38 ICP, with a notional turnover of approximately $7,783,719.72.

The 24-hour period featured a bearish bias early on, as the price broke below the 20-period and 50-period moving averages on the 15-minute chart, forming a short-term downtrend. However, a sharp recovery in the latter half of the session saw price retest key support levels, including the $4.06–$4.08 range, which appears to be a strong consolidation area. No definitive reversal candlestick patterns emerged, though the session saw a large bearish 15-minute candle at the intraday low, followed by several bullish follow-through candles.

The RSI oscillated between 45 and 60 for most of the session, indicating moderate momentum with no clear overbought or oversold conditions. MACD remained in negative territory for much of the session, with a narrow histogram reflecting subdued bearish momentum. Bollinger Bands expanded significantly during the price drop to $4.042, but the subsequent rebound brought price back into the upper band, signaling a potential short-term reversal or consolidation.

Volume increased significantly during the price rebound, particularly around the 9 PM ET time frame, indicating growing buying interest. The largest notional turnover occurred in the final 15-minute candle of the 24-hour period, as the price closed near $4.099. This suggests either accumulation or a possible distribution strategy at the close.

The 24-hour price swing from $4.158 to $4.042 saw a 38.2% Fibonacci retracement at $4.102 and a 61.8% retracement at $4.063, both of which were tested in the recovery phase. While the 61.8% level held briefly as support, price failed to close above the 38.2% level, suggesting that further consolidation is likely in the coming 24 hours.

Backtest Hypothesis
Given the recent volatility and the price’s tendency to retest Fibonacci levels without decisively breaking through, a backtesting strategy could be constructed that targets short-term mean reversion trades around the $4.06–$4.10 range. A long entry could be triggered on a close above the 38.2% retracement at $4.102, with a stop loss below $4.063. Conversely, a short entry could be triggered on a close below $4.063, with a stop above $4.102. This approach would aim to capture the market's oscillatory behavior within a defined range.