Internet Computer (ICP/USD) Market Signals Further Decline With Rejection Near Key Resistance

Internet Computer Price Prediction — March 16

ICP/USD market signals further decline with rejection near key resistance. The price seems to be recuperating from an oversold region, thereby making a potential retracement to the upside.

The ICPUSD chart indicates a bearish outlook, with the price trading slightly above the 9-day Simple Moving Average (SMA) at $5.580. The Relative Strength Index (RSI) is at 40.21, reflecting weak buying pressure and suggesting that the pair remains in a bearish zone. The price staying below the $6.800 resistance level and the SMA confirms the downward momentum. If the RSI falls further below 40.00, it could indicate increased selling pressure and a potential continuation of the bearish trend.

ICP/USD Market Key Levels:

Resistance levels: $6.800, $10.050, $12.760
Support levels: $5.610, $4.960, $4.000

ICP/USD – Daily Chart

The ICP/USD daily chart shows that the market is undergoing a bullish retracement into the bearish order block.

Price action shows a clear break of structure (BOS) below the $6.800 level, signaling a shift to a bearish market environment. The price recently attempted to revisit the order block (OB) around $6.800 but faced rejection, confirming the strength of this resistance.

The lower high formation and multiple failed attempts to break above this level further reinforce bearish sentiment. The support zone around $5.610 is currently holding, but a breakdown below this level could trigger further losses.

What is the projection for the ICPUSD market?

If ICPUSD continues its bearish trajectory, the next key target is below the $5.00 psychological level. A clean break below this zone could drive prices toward the $4.000 mark, intensifying bearish pressure.

However, if the price manages to reclaim and hold above $6.800, it may invalidate the bearish scenario. For now, the prevailing market structure suggests a continuation of the downward move, with short-term resistance firmly established at $6.800.

ICP/BTC Price Analysis

ICPBTC remains bearish as the price trades below the 9-day Simple Moving Average (SMA) at 0.0000670 BTC. A clear break of structure (BOS) below 0.0000670 BTC signals further downside potential.

The next major support is around 0.0000620 BTC, and a breakdown below this level could accelerate losses. Any recovery faces resistance at 0.0000800 BTC, where sellers are likely to defend.

Internet Computer (ICP) Current Statistics
The current price: $5.670
Market Capitalisation: $2,790,000,000
Trading Volume: $59,550,000