Internet Computer (ICP/USD) Market Shows Signs of Bearish Rejection and Weak Momentum
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Internet Computer Price Prediction — May 4
ICPUSD market shows signs of bearish rejection and weak momentum. The bearish trend will likely resume soon as price enters a critical supply zone.
The Relative Strength Index (RSI) is currently at 47.29, hovering just below the neutral 50 level, suggesting weakening bullish momentum and a tilt towards bearish pressure. The 9-period Simple Moving Average (SMA) is slightly above the current price at $5.070, indicating that the market is struggling to sustain upward movement. The rejection near the SMA line adds to the evidence of bearish control, as price continues to respect the dynamic resistance.
ICP/USD Market Key Levels:
Resistance levels: $6.800, $10.050, $12.760
Support levels: $4.960, $4.000, $3.000
ICP/USD – Daily Chart
The ICP/USD daily chart shows a major retracement upward into a critical supply zone below $6.800.
Looking at price action, ICPUSD has formed multiple Break of Structure (BOS) levels to the downside, confirming a bearish trend. The recent price rally was capped at a confluence of an order block and fair value gap (OB + FVG) between $5.510 and $5.610, forming a short-term liquidity zone.
The ascending trendline has been pierced, showing that bullish structure is weakening. The lower highs and recent rejections below $5.610 further validate bearish dominance.
What is the projection for the ICPUSD market?
The market projection points toward a retest of the $5.510 zone before a likely continuation to the downside. If the price fails to break and close above $5.610, it may head back to $4.960 and break it, with a further downside target at $4.960. A deeper bearish extension could see ICPUSD reaching the $4.000 psychological level, especially if RSI continues to dip and selling volume increases.
ICP/BTC Price Analysis
ICPBTC is trading within a descending channel, indicating sustained bearish momentum. The RSI is oversold at 29.31, suggesting possible short-term relief but not a confirmed reversal.
Price remains below the 9-day SMA and has failed to reclaim the 0.0000530 resistance. If bullish attempts fail near 0.000062, the pair could continue downward toward the 0.0000400 support.
Internet Computer (ICP) Current Statistics
The current price: $4.980
Market Capitalisation: $2,450,000,000
Trading Volume: $49,610,000
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