Internet Computer weekly forecast: Consolidation holds with price supported above MA-20

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Internet Computer up 0.34% this week

Highlights

Internet Computer trades at $3.28, gaining $0.02 over 7 days with a sustained bullish trend above key moving averages.
Price momentum is rising with upside signals from daily indicators, but some overbought readings are emerging.
Expected trading range for next week is $2.93 to $3.62, with $3.00 as key support and $3.56 as resistance.

Bullish trend persists as weekly momentum nears overbought thresholds

The daily chart shows a sustained move higher with a firm trend, supported by the price holding well above the MA-20 at $2.97 and the MA-50 at $2.67. RSI is at 63.04 and approaching overbought, while CCI is firmly in the overbought zone at 107.01, signalling growing upside momentum. Recent 7-day volatility sits at 22.76%, and the $3.00 level from the Ichimoku Kijun offers nearest support, while $3.56 acts as resistance. Taken together, these signals point to continued bullish control in the short term, though some momentum signals are starting to look stretched.

Bullish continuation favored barring breakdown below $3.00 in coming week

Next week, the expected range is $2.93 to $3.62, with a very high probability of an increase and a very low probability of a decrease. The base case sees Internet Computer trading within this range, with bullish continuation likely while price holds above $3.00 support. A move through $3.56 resistance would open the door to further gains, while a decisive drop below $3.00 would challenge the uptrend and risk a pullback toward the lower end of the projected range.

Viktoras Karapetjanc, expert at Traders Union, believes the bullish momentum on Internet Computer remains strong after another week of sustained gains. He notes that the price is holding firmly above key daily moving averages and that oscillators signal buyers are in control. With volatility elevated at 22.76%, and well-defined levels at $3.00 for support and $3.56 for resistance, Karapetjanc sees a constructive structure in place. The analyst expects Internet Computer to trade within the $2.93 to $3.62 range this week, with a very high probability of further upside as long as the $3.00 level holds. "The setup signals further growth potential, and as long as $3.00 support is intact, I see opportunities for bullish continuation in the days ahead."

Earlier, analysts noted that Internet Computer had shifted into a short-term bearish phase with downside risks taking precedence. The latest technical readings now point to bullish momentum overtaking prior selling pressure, making ongoing support at $3.00 a critical threshold for assessing the durability of the current uptrend.

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

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