Internet Computer (ICP/USD) Market Shows Bearish Momentum with Potential Further Declines
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Internet Computer Price Prediction — March 23
ICP/USD market shows bearish momentum with potential further declines. A retraction from the $6.800 is expected to halt the ongoing short-term pullback.
The 9-day Simple Moving Average (SMA) currently hovers around $5.810, with the price slightly above it at $6.020, indicating mild bullish attempts within a dominant bearish structure. However, the Relative Strength Index (RSI) is at 49.35, which is below the neutral 50 mark, signaling weak buying pressure. The RSI’s recent lower highs reflect a lack of momentum for a substantial bullish reversal. The market remains below the $6.800 resistance zone, and the alignment of these indicators suggests the bears still control the overall direction.
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
ICP/USD – Daily ChartThe ICP/USD daily chart reveals a continuous decline as the patterns keep repeating.
Price action reveals a clear Break of Structure (BOS) at multiple levels, confirming the continuation of the bearish trend. The failure to reclaim the $6.800 resistance zone further reinforces downward pressure.
An observed order block (OB) at the premium zone previously acted as a supply zone, where sellers regained control. Multiple BOS formations at $5.610 and $4.960 suggest weak bullish reactions and the likelihood of continued declines.
What is the projection for the ICPUSD market?
Given the prevailing bearish structure and weak momentum, a rejection from the $6.800 resistance is likely to trigger further declines. If the price breaches the $5.610 support, the next significant downside targets are $4.960 and $4.840. A sustained break below these levels could drive ICPUSD toward $4.000, reinforcing the bearish outlook.
Conversely, for any bullish reversal, the price must decisively reclaim $6.800 and sustain above it to challenge the $7.800 supply zone. Until then, the bias remains bearish with a focus on lower support levels.
ICP/BTC Price Analysis
ICP/BTC Price AnalysisThe ICPBTC pair remains bearish, trading below the 0.0000800 BTC resistance level. The 9-day SMA at 0.0000690 BTC aligns with the current price, indicating weak momentum.
A supply zone (order block) around 0.0000900 BTC suggests a potential rejection if the price reaches that level. If the price fails to break above 0.0000800 BTC, further downside targets are 0.0000620 BTC and 0.0000500 BTC.
Internet Computer (ICP) Current Statistics
The current price: $6.020
Market Capitalisation: $2,930,000,000
Trading Volume: $61,580,000
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