Internet Computer (ICP/USD) Shows Bearish Momentum With Potential for Short-Term Recovery
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Internet Computer Price Prediction — February 23
ICP shows bearish momentum with potential for short-term recovery. The short-term retracement will likely end after the price enters the bearish order block.
The technical indicators reflect a bearish trend in ICPUSD, with the price trading below the 9-day Simple Moving Average (SMA) at $7.010. This suggests that the short-term momentum remains weak, and the price has struggled to break above this dynamic resistance. Additionally, the Relative Strength Index (RSI) is at 40.93, approaching the oversold region but not quite there yet. The RSI moving below the neutral 50 level indicates that sellers are still in control, although the slight upward slope hints at a possible short-term recovery before further downside.
ICP/USD Market Key Levels:
Resistance levels: $10.050, $12.760, $15.590
Support levels: $6.800, $4.960, $4.000
ICP/USD – Daily Chart
The ICP/USD daily chart reveals an ongoing accumulation at the $6.800 demand zone.
ICPUSD recently experienced a break of structure (BOS) to the downside, confirming a bearish continuation pattern. The price has consolidated within a small range, suggesting indecision in the market.
A bearish order block (OB) around $8.810 serves as a key resistance zone, where sellers could step in to resume the downward trend. The rejection from this zone in the past makes it an important level to watch for a potential retest before further declines.
What is the projection for the ICPUSD market?
The projection for ICPUSD remains bearish, with a short-term bullish correction likely toward the $8.810 order block before another leg down. If price gets rejected at this zone, a continuation to lower support levels at $6.800 and ultimately $4.960 is expected.
A further breakdown could see ICPUSD reaching as low as $4.000, a significant support level. However, if buyers push the price above $10.050 resistance, it could invalidate the bearish bias and signal a potential trend reversal.
ICP/BTC Price Analysis
ICP/BTC Price AnalysisThe ICPBTC pair remains in a bearish trend, with price trading below the 9-day SMA at 0.0000730, confirming weak momentum. The RSI at 41.11 is still below the neutral 50 level, suggesting that sellers are in control despite a minor attempt at recovery.
Price is currently consolidating just below the 0.0000800 resistance level, with an order block (OB) around this zone acting as a potential supply area where sellers may step in. Rejection from this OB could push ICPBTC lower toward key support levels at 0.0000620 and 0.0000500.
Internet Computer (ICP) Current Statistics
The current price: $7.030
Market Capitalisation: $3,330,000,000
Trading Volume: $77,210,000
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