Questions about ICO's and Alt Coins' Price

I've been looking at ICO's and have some questions about how they work. I've studied the terms of the ICO's and have an ok grasp of generally how the offerings work, what to look for (I think); and also evaluated recent companies along with price movement after the ICO's. But I've yet to invest in one and wasn't sure about a few things.

1. Post-ICO Price Movement: What explains the upward price movement of the currency after the ICO? I realize in some cases the ICO is entirely sold out; in which case there is pent-up demand afterwards. However, in other cases, the ICO is not sold out and generally you often get upward movement as well after the ICO is over. It seems like the avenues to purchase the currency or convert to the new alt-coin are not huge; a lot of the major exchanges don't carry the smaller, newer currencies. So I was skeptical just how many people caught wind of it post-ICO then bothered getting on an exchange which carries smaller currency and buying. (It would seem they are even if the price is determined by a small % of tokens-oustanding traded post-ICO.)

2. Impact of Ether Price on Alt-Coin Price: How important is the price movement of Ethereum on the price of a token which uses it as its token platform? It seems to me that the primary pair used for these ICO tokens is AltCoin-Ether. Then, other pairs may be added like USDT, BTC, etc. In the brick and mortar world, a stock market is based on a national currency and that currency doesn't bounce around that much (it moves but not to the extent that virtual currency does). In this case, Ethereum has gone from 300 to 400 and back to 300 in the space of a few weeks, which is serious volatility. Do all the tokens based on it go along for the ride too?

3. Related to #2, assuming for some of the smaller Eth-based currencies that Ethereum is the only or primary pairing, have you seen cases where the underlying performance of your alt-coin is good, but since Eth took a dive, that your alt-coin's price movement was negative? Wondering what considerations you make in your buying/selling, entry/exit points based on that, if at all.

4. Liquidity: Do you have liquidity problems with ICO tokens post-ICO? I was wondering about the volume of transactions and if that affects the ability to sell, how long you have to wait to sell/liquidate?

5. Prices Accurate Reflection of Sell Prices?: Are the prices of these alt coins (esp. if new and not top 100 in market cap) that are reported on sites like CryptoCompare and other websites genuine reflections of what you can actually sell for? I ask because I wonder if these prices may be easy to skew; so I wanted to know if in your actual experience, if you find that liquidating a reasonable volume of currency means settling for a lower price (or waiting longer to find buyers).

I welcome a response to any or all of these. Any input would be helpful.

Thanks; if any of the above need to be clarified, please let me know.