Internet Computer (ICP/USD) Market Shows Sustained Weakness Below Key Technical Resistance Levels
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Internet Computer Price Prediction — June 1
ICPUSD market shows sustained weakness below key technical resistance levels. The Relative Strength Index (RSI) is currently sitting around 39.56, showing weak bullish momentum as the pair struggles to reclaim strength above the 50 midpoint.
The 9-day Simple Moving Average (SMA) at $5.170 continues to hover above price, acting as dynamic resistance and confirming the prevailing downtrend. With no bullish divergence in the RSI and continued rejection below the moving average, the indicators collectively point to a bearish continuation unless significant buying pressure emerges.
ICP/USD Market Key Levels:
Resistance levels: $6.130, $7.760, $10.050
Support levels: $4.960, $4.000, $3.000
ICP/USD – Daily Chart
The ICP/USD daily chart shows price facing downside as more sellers enter the market.
Price action on the chart reveals a clear downtrend structure marked by multiple Break of Structure (BOS) points and a consistent failure to form higher highs. The most recent rally was capped at the $6.130 resistance, where price tapped into a confluence of Order Block (OB) and Fair Value Gap (FVG), before being rejected.
The descending trendline from earlier highs remains unbroken, and price is currently testing support around $4.960, just above a previous BOS zone near $4.500. Sellers appear to be in control as price consistently fails to maintain gains above resistance levels.
What is the projection for the ICPUSD market?
If $4.960 fails to hold, price could dip toward the next demand zone of $4.000, with a deeper flush potentially targeting $3.000. Any short-term relief rally may retest the trendline, but as long as the bearish structure remains intact and the trendline holds, these rallies are likely to be sold into. A sustained move above $6.130 would be needed to shift sentiment.
ICP/BTC Price Analysis
ICPBTC remains in a bearish trend, consistently printing lower highs and lower lows below the 9-day SMA. Price recently swept the Buy Side Liquidity (BSL) at 0.0000580 before facing strong rejection.
The pair failed to hold above the 0.0000500 psychological level and is now trading below it. RSI is hovering around 35, indicating lingering bearish momentum with no signs of immediate reversal.
Internet Computer (ICP) Current Statistics
The current price: $4.780
Market Capitalisation: $2,600,000,000
Trading Volume: $55,140,000
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