Internet Computer (ICP/USD) Market Shows Bearish Momentum Below Key Resistance Levels
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Internet Computer Price Prediction — February 2
Internet Computer market shows bearish momentum below key resistance levels. The market seems to have resumed its bearish trend as a bearish marubozu candlestick formed after a price rejection at $9.770.
The indicators reinforce a bearish outlook for ICPUSD. The MACD histogram remains in negative territory, with the MACD line below the signal line, suggesting ongoing bearish momentum. Additionally, the 9-day Simple Moving Average (SMA) at $8.900 is acting as dynamic resistance, capping upward price movement. The failure of the price to sustain above this level signals persistent selling pressure.
ICP/USD Market Key Levels:
Resistance levels: $10.050, $12.760, $16.280
Support levels: $8.820, $6.800, $4.960
ICP/USD – Daily Chart
The ICP/USD daily chart reveals that the price is now heading downward following a short-term consolidation.
ICPUSD recently attempted a recovery but faced rejection at the $9.770 level. The price also broke structure (BOS) earlier, confirming a shift in trend to the downside.
The inability to reclaim the previous $10.050 support further strengthens the bearish case. The wick rejections also indicate sellers are stepping in aggressively, preventing a sustained move higher.
What is the projection for the ICPUSD market?
What is the projection for the ICPUSD market?Given the current setup, ICPUSD is likely to continue its downward trajectory. If the price fails to reclaim the $10.050 level, it could drop further towards the next support at $6.800.
A break below this level could trigger a deeper decline toward the $4.960 support zone. The bearish projection remains valid unless the price reclaims $9.770 with strong volume, which could invalidate the downside bias.
ICP/BTC Price Analysis
ICPBTC remains bearish as the price continues to respect the descending trendline, facing rejection near 0.0000870 BTC. The MACD histogram remains in negative territory, confirming weak momentum, while the 9-day SMA acts as resistance.
A recent break of structure (BOS) indicates sellers remain in control, with the failed retest at 0.0000870 BTC strengthening the bearish case. If the price breaks below 0.0000800 BTC, it could extend losses toward the next key support at 0.0000780 BTC.
Internet Computer (ICP) Current Statistics
The current price: $8.620
Market Capitalisation: $3,970,000,000
Trading Volume: $116,610,000
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