Internet Computer (ICP/USD) Market Rejects Supply Zone Signaling Renewed Bearish Price Momentum
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Internet Computer Price Prediction — May 11
ICPUSD market rejects supply zone signaling renewed bearish price momentum. The ongoing rejection from the order block is expected to trigger a notable decline sufficient enough for another break of structure.
The technical indicators reflect early signs of weakening bullish strength in the ICPUSD pair. The 9-period Simple Moving Average (SMA) is currently at $5.030, serving as dynamic support but now under pressure as price retraces from recent highs. Meanwhile, the Relative Strength Index (RSI), which recently peaked near 60.15, has declined to 48.30, indicating a loss of bullish momentum and increasing bearish divergence. This downshift in RSI below the neutral 50 line further supports the likelihood of continued downward pressure.
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 shows price’s reaction from a critical supply zone.
ICPUSD rallied into a confluence zone combining an order block and fair value gap between $5.610 and $5.830. This zone acted as a critical supply zone, triggering a sharp rejection as evidenced by the bearish candlestick formation at resistance.
The pair has also respected a previous bearish break of structure (BOS), and the failed attempt to hold above $5.610 underscores the presence of significant selling interest at higher levels. Additionally, repeated BOS patterns in recent months confirm a prevailing bearish market structure.
What is the projection for the ICPUSD market?
Looking ahead, the price is likely to decline toward the key support zone around $4.960, with a possible extension toward $4.00 if selling pressure persists. The inability to sustain above $5.619 confirms the dominance of bears, and a daily close below the $5.030 moving average would strengthen the bearish bias. Unless a strong bullish catalyst emerges to push the price above $5.830, ICPUSD is expected to remain in a downward trajectory in the short to medium term.
ICP/BTC Price Analysis
ICPBTC remains in a bearish trend as price struggles below the 9-day SMA. The current bounce appears corrective and may face resistance around the 0.0000620 BTC level.
RSI is recovering from oversold territory but still reflects weak momentum. If rejection occurs, the pair could revisit the 0.0000500 BTC zone or even drop toward 0.0000400 BTC.
Internet Computer (ICP) Current Statistics
The current price: $5.550
Market Capitalisation: $3,010,000,000
Trading Volume: $119,390,000
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