Internet Computer (ICP/USD) Market Continues Bearish Slide With Weak Recovery Signals
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Internet Computer Price Prediction — May 18
ICPUSD market continues bearish slide with weak recovery signals. Another Break of Structure (BOS) to the downside is expected as the price faces downward.
The Relative Strength Index (RSI) on the daily timeframe currently fluctuates around the neutral 50 mark, with a slight upward slope indicating a weak bullish correction. However, the RSI has failed to break convincingly above 60 in recent attempts, signaling limited buying strength. The 9-day Simple Moving Average (SMA) at $5.552 is trending downward, suggesting bearish momentum remains dominant. The price is also trading below this moving average, further confirming that sellers continue to control the market structure despite minor bullish pullbacks.
ICP/USD Market Key Levels:
Resistance levels: $6.800, $10.050, $12.760
Support levels: $4.960, $4.000, $3.000
ICP/USD – Daily Chart
The ICP/USD daily chart reveals a rejection downward after price filled a Fair Value Gap.
Recent price action supports a bearish continuation narrative. The pair printed a clear Break of Structure (BOS) at multiple points, with the most recent BOS occurring below the $4.960 level. Price recently rallied into a confluence of a bearish Order Block (OB) and Fair Value Gap (FVG) between $5.550 and $5.610, but failed to hold above this supply zone.
The rejection from this zone resulted in a swift retracement, reinforcing the resistance strength. Furthermore, the inability to maintain structure above this level confirms the market’s bearish disposition.
What is the projection for the ICPUSD market?
The current projection anticipates a continuation to the downside. Should bearish pressure persist, ICPUSD is likely to break below the $4.960 support level, with a potential slide toward $4.840 and possibly $4.000 in the coming sessions. The invalidation of this bearish outlook would require a daily close above $5.610, flipping the supply zone into support.
ICP/BTC Price Analysis
ICPBTC remains in a bearish trend despite a brief rally above 0.0000620, which failed to hold. The price has dropped back below the 9-day moving average and is now testing the 0.0000510 support.
RSI is below 50, signaling weak momentum and limited bullish strength. If 0.0000510 breaks, the next target lies near 0.0000500 and possibly 0.0000400.
Internet Computer (ICP) Current Statistics
The current price: $5.260
Market Capitalisation: $2,790,000,000
Trading Volume: $59,500,000
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