Internet Computer (ICP/USD) Market Shows Bearish Continuation Below Key Structural Support
Estimated Reading Time: 3 minutes
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you are unlikely to be protected if something goes wrong. Take 2 minutes to learn more
Internet Computer Price Prediction — June 22
Internet Computer (ICP/USD) market shows bearish continuation below key structural support. The ICPUSD pair continues to exhibit a bearish structure on the daily timeframe, aligning with a sustained decline beneath the 9-period Simple Moving Average (SMA) currently positioned near $5.120. This dynamic resistance has consistently capped upside attempts, and the Relative Strength Index (RSI) indicator, now around 35.52, reinforces weakening bullish momentum, confirming bearish sentiment. The inability of bulls to reclaim control above the mid-$5.00 range signals a broader market consensus that favors further downside continuation in the near term.
ICP/USD Market Key Levels:
Resistance levels: $6.130, $6.820, $7.760
Support levels: $4.960, $4.000, $3.000
ICP/USD – Daily Chart
The ICP/USD daily chart reveals a downward structural shift as price invalidates diagonal support.
Technically, the market structure remains fragile following the formation of a rising wedge that has now broken to the downside. ICPUSD has breached the trendline support decisively around $4.960, with momentum accelerating southward. Price also failed to hold the $5.000 psychological level, reinforcing the dominance of sellers.
What is the projection for the ICPUSD market?
Looking ahead, the prevailing technical conditions favor further depreciation toward the next support levels at $4.000. If momentum persists and no bullish reaction is triggered at $4.000, extended downside targets may open up toward the $3.000 region, last visited during early 2023. In absence of bullish divergence or strong demand influx, the market could continue to print lower highs and lower lows, cementing the bearish trend over the medium term.
ICP/BTC Price Analysis
ICPBTC has broken below the 0.0000490 support zone, confirming bearish momentum after a failed bullish structure. Price rejected sharply from 0.0000620, forming a lower high and triggering a new bearish swing.
The RSI is weak at 34.75, reinforcing downside strength with no immediate signs of reversal. If the current breakdown holds, price is likely to target the 0.0000400 and 0.0000350 support levels next.
Internet Computer (ICP) Current Statistics
The current price: $4.630
Market Capitalisation: $2,450,000,000
Trading Volume: $81,550,000
Place winning ICP trades with us. Get ICP here
