Support test looms for Internet Computer: Can ICP hold $2.79 after selloff?

Traders Union
All News
Crypto
Internet Computer slides 6.53% today

Highlights

ICP/USD trades below short- and medium-term moving averages with a 6.53% daily drop to $2.92, indicating continued short-term weakness.
Technical indicators collectively signal persistent bearish momentum and mild downside bias, with no clear sign of oversold conditions.
Predicted range for the next 2 to 3 days is $2.79 to $3.18, with a high probability of further declines if $2.79 is breached.

Weak momentum persists as downside signals overpower resistance test

Technically, ICP/USD is under short- and medium-term pressure, with the price trading below both the MA-20 and MA-50 levels while holding above the MA-200. The Ichimoku Kijun at $3.01 defines immediate resistance on the daily chart. For oscillators and momentum signals, MACD remains at Strong Sell and ADX is Neutral, suggesting a weak trend. RSI prints 48.4 (Sell), Stochastic RSI confirms a Sell bias, while CCI is Neutral. Bull/Bear Power, however, points to some intraday buyer activity, yet overall, the momentum environment remains dominated by downside signals.

Further decline risk elevated as volatility band narrows

In the short term, ICP is likely to trade between $2.79 and $3.18, which defines its volatility band relative to current levels for the next 2–3 sessions. The probability of a further decline is very high, while an upward continuation remains unlikely in the near term. If the price consolidates sideways within this range, it would reflect a neutral baseline scenario. A breach above $3.01 would signal near-term bullish momentum, while a breakdown below $2.79 would risk further selling and a test of long-term support.

Viktoras Karapetjanc, expert at Traders Union, sees Internet Computer (ICP) maintaining some underlying support even as short- and medium-term signals stay weak. He believes the absence of decisive fundamental or macro catalysts leaves price action governed by technical momentum for now. Technical bias is bearish, but stability above the long-term average suggests resilience. "If ICP consolidates above $2.79, I expect buyers could regain confidence, creating opportunity for a rebound if conditions improve."

Earlier, analysts noted that Internet Computer was trading in a consolidating range with high upside potential as long as key support levels held. The current technical setup marks a shift to downside risk, making the $2.79 support level crucial to watch for potential further declines in the short term.

Source of Data: ICP Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.