Internet Computer (ICP/USD) Market May Set for a Bearish Continuation After an Expected Correction
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Internet Computer Price Prediction — March 2
ICP market may be set for a bearish continuation after an expected correction. The bearish trend is expected to resume once the price retraces into the bearish order block.
The indicators suggest that ICPUSD is currently in a bearish trend, but signs of an upcoming correction are visible. The 9-day Simple Moving Average (SMA) at $6.700 shows that the price is attempting to gain momentum above it. Additionally, the Relative Strength Index (RSI) is at 49.72, which indicates a neutral market but slightly leaning toward oversold conditions. This suggests that a short-term bullish move could occur before the continuation of the downtrend.
ICP/USD Market Key Levels:
Resistance levels: $8.500, $10.050, $12.760
Support levels: $6.800, $4.960, $4.000
ICP/USD – Daily Chart
The ICP/USD daily chart shows a retraction to the premium zone.
Price action reveals that ICPUSD broke structure (BOS) to the downside, confirming bearish dominance. However, a consolidation phase occurred within a small range, indicating accumulation before a corrective move.
There is an Order Block (OB) zone around $8.500, which aligns with a strong resistance level. Price is likely to react in this region before continuing lower.
What is the projection for the ICPUSD market?
The projection suggests that ICPUSD will rally toward the $8.500 bearish order block before experiencing rejection. A bearish continuation from this resistance zone could push the price to the $4.960 support level, with an extended target at $4.000.
ICP/BTC Price Analysis
ICP/BTC Price AnalysisICPBTC remains in a strong bearish trend, with price struggling to sustain bullish momentum. The 9-day SMA at 0.0000750 BTC suggests that the pair is still trading below short-term resistance.
The order block (OB) around 0.0000800 BTC has acted as a rejection zone, reinforcing bearish dominance. A breakdown from this level could send prices toward the next major support at 0.0000620 BTC, with an extended target at 0.0000500 BTC.
Internet Computer (ICP) Current Statistics
The current price: $7.170
Market Capitalisation: $3,460,000,000
Trading Volume: $119,950,000
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