Support test at $3.14: Can Internet Computer hold support?

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Internet Computer slides 5.65% today

Highlights

The Internet Computer community is working on interchain cooperation to freeze stolen crypto assets and manage broader ecosystem security risks.
These collective security initiatives could improve perceptions of platform resilience, though ICP has experienced ongoing selling pressure.
ICP trades below key moving averages with weak momentum; the projected range over the next 2 to 3 days is $3.14 to $3.47, skewed 70% toward further downside.

Collective security efforts considered as trust meets persistent selling

The Internet Computer community has been engaging in active discussions on implementing measures for interchain cooperation aimed at freezing stolen crypto assets, according to Ambcrypto. Such collective initiatives seek to address systemic security risks in the broader crypto ecosystem, which could influence participant trust and confidence. These developments typically enhance the perception of platform resilience, though price action has remained under broader selling pressure.

Weak momentum and seller dominance as key support holds

On the hourly chart, ICP/USD is trading below the MA-20 at $3.35 and the MA-50 at $3.39, but remains above the longer-term MA-200 at $2.47 on the daily chart. The Ichimoku Kijun sits at $3.40 as immediate resistance. Momentum signals remain weak, with MACD and ADX both reflecting a lack of bullish strength. RSI is at 42.78, CCI gives a sell signal, and Stochastic RSI is in oversold territory, indicating a risk of further downside yet also short-term exhaustion among sellers. Intraday, Bull/Bear Power reflects seller dominance, while the Awesome Oscillator supports prevailing bearish momentum.

Downside risk elevated as range narrows amid volatility

In the short term, ICP price is expected to trade within a $3.14 to $3.47 range over the next two to three days, consistent with recent volatility. The likelihood of a downward move is higher, with a 70% probability of further declines versus a 30% chance of a short-term rebound. If the price breaks above the $3.40 resistance, a brief rally could follow, but if sustained selling pushes below $3.14, further downside momentum may emerge.

Viktoras Karapetjanc, expert at Traders Union, notes that Internet Computer’s community-driven efforts to address interchain asset security are a strong signal of long-term commitment. He sees recent price weakness as typical of market cycles, not a change in fundamental outlook. The analyst remains constructive while focusing on crypto sector resilience. "If collective action on security continues, I expect confidence and participation around ICP to build, even as near-term price action remains volatile."

Previously it was reported that Internet Computer (ICP) was benefiting from strong technical momentum and sustained bullish signals. Current price action, however, indicates a shift to short-term bearish momentum, making the $3.14 support level a critical reference point for traders monitoring further downside risks.

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.