Market Overview for Internet Computer/Tether (ICPUSDT)

Summary
• Price surged above $3.20 after a bullish breakout from a 5-minute consolidation pattern.
• RSI climbed toward overbought territory, signaling potential short-term pullback risk.
• Turnover spiked above $568k at 11:30 AM ET, aligning with a key 3.237 high on the hourly chart.
• Bollinger Bands widened late morning, reflecting heightened volatility in the final 5-hour window.
• Volume showed no divergence with price, affirming strength in the recent rally.

Internet Computer/Tether (ICPUSDT) opened at $3.113 on 2026-01-03 12:00 ET and closed at $3.286 on 2026-01-04 12:00 ET, trading between $3.085 and $3.287. Total 24-hour volume reached 1.79M and turnover hit $568.1k, with heavy buying interest observed in the final 5 hours.

Structure & Formations

Price broke above a tight 5-minute consolidation range between $3.19 and $3.215 at 11:30 AM ET, forming a bullish breakout pattern. A strong 5-minute engulfing candle at 10:00 AM ET confirmed the upward momentum, pushing ICPUSDT above key resistance at $3.20 and testing a 38.2% Fibonacci level.

Indicators

The 5-minute MACD turned positive mid-morning and remained above the signal line, reinforcing the bullish bias. RSI peaked at 72, entering overbought territory, which may suggest a short-term pullback. The 20-period EMA crossed above the 50-period EMA in late morning, signaling a shift in trend.

Volatility and Volume

Bollinger Bands expanded significantly after 11:00 AM ET, indicating rising volatility. Volume surged to 176k at 11:30 AM ET, the highest 5-minute bar of the day, as price approached $3.237. Turnover and volume aligned well with price, indicating broad consensus in the upward move.

Key Levels

Immediate support now sits at $3.215, a level tested twice in the afternoon. A break below this could see a pullback toward $3.193, the 50-period EMA on the 5-minute chart. Resistance to watch is $3.287, the daily high. A close above this could target $3.310 on the Fibonacci extension.

Market participants may see consolidation near $3.25 in the next 24 hours as RSI retracts. A failure to hold $3.215 could trigger a test of the $3.193 support. Investors should remain cautious as overbought conditions persist and volatility remains elevated.