Internet Computer (ICP/USD) Continues Bearish Trend Below Key Support Levels
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Internet Computer Price Prediction — February 9
ICP continues its bearish trend below key support levels. Further declines seem imminent as no signs of bullish moves are noticed in the near term.
The ICPUSD chart shows clear bearish momentum, confirmed by multiple indicators. The price is trading below the 9-period Simple Moving Average (SMA) of $7.460, indicating a sustained downtrend. The MACD (12,26) histogram is also negative, with the MACD line below the signal line, further confirming downward momentum. This suggests increasing selling pressure and limited bullish activity.
ICP/USD – Daily Chart
The ICP/USD daily chart reveals that the price still aims for further crashes as no signs of bullishness surface.
Price action highlights a strong bearish structure with a break of structure (BOS) below key support at $8.820. The rejection from the $10.050 resistance zone, marked by a bearish order block (OB), led to a sharp decline.
A fair value gap (FVG) around the $7.760 region was briefly tested before the price resumed its downward move, forming another BOS near $5.600. The failed bullish attempt near $9.770 has since reinforced the sellers’ dominance.
What is the projection for the ICPUSD market?
What is the projection for the ICPUSD market?Projection-wise, ICPUSD is likely to continue its bearish movement unless significant buying pressure emerges. The next major support level is around $4.960, which could act as a potential target for sellers.
Any corrective bounce might face resistance near the $7.760 level, which aligns with the FVG. If sellers maintain control, a further breakdown below $5.600 could lead to new lows, confirming a prolonged bearish cycle.
ICP/BTC Price Analysis
ICPBTC is in a clear downtrend, trading below the 9-period SMA at 0.0000760 and respecting the falling trendline. A retracement towards the bearish order block (OB) below 0.0000800 is likely before sellers regain control. The MACD remains bearish, showing weak momentum for a sustained reversal. If the price fails to break above the trendline, it will likely resume its downward movement toward the next key support at 0.0000620.
ICP/USD Market Key Levels
Resistance levels: $10.050, $12.760, $16.280
Support levels: $6.800, $5.600, $4.960
Internet Computer (ICP) Current Statistics
The current price: $6.720
Market Capitalisation: $3,380,000,000
Trading Volume: $68,790,000
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