Internet Computer price tests $2.77 support as sellers maintain pressure

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Internet Computer drops 8.04% to $2.88

Highlights

Bleep App has introduced a fully on-chain social platform on Internet Computer, expanding network utility and enabling new transactional applications.
Internet Computer generated $96,924 in weekly network revenue, capturing current economic activity levels on the protocol.
ICP/USD trades under key resistance levels with strong negative momentum; the expected two to three day range is $2.77 to $2.99 with a high probability of further downside.

Platform innovation and revenue growth as selling pressure persists

Bleep App's development of a fully on-chain social platform using Internet Computer and Chain Fusion represents ongoing third-party product innovation within the underlying network ecosystem, according to Tronweekly. This move adds a novel use case, broadening transactional activity and potential protocol demand as new on-chain applications are built. Separately, Internet Computer reported recent weekly network revenue of $96,924, a figure that quantifies baseline economic activity on the protocol. These platform advancements are taking place as the asset price has come under broader selling pressure.

Bearish momentum dominates amid oversold technical signals

ICP/USD is trading below its MA-20 at $3.15 and MA-50 at $3.22 on the hourly chart, while remaining above its MA-200 at $2.5 on the daily timeframe. Immediate resistance is located at the Ichimoku Kijun level of $3.09. Momentum indicators are negative, with both MACD and ADX showing strong selling pressure. RSI is at 22.41, indicating a sell signal, and both CCI and Stoch RSI flag oversold conditions. Bull/Bear Power continues to reveal clear seller dominance, and the Awesome Oscillator also signals persistent bearish momentum.

Low recovery odds as volatility band constrains near-term outlook

In the short term, ICP/USD is expected to remain within a range of $2.77 to $2.99 over the next two to three days. The likelihood of a price recovery is classified as very low, with the probability of further downside above 80%. Unless a sustained move above the $3.09 Kijun resistance is achieved, the baseline scenario calls for continued trading within this volatility band. A break below $2.77 would likely accelerate downside momentum.

Viktoras Karapetjanc, expert at Traders Union, sees continued fundamental innovation on the Internet Computer network as supportive for long-term prospects. He believes the Bleep App’s on-chain social platform and the healthy weekly revenue signal real-world utility despite current price pressure. The analyst notes that technical momentum remains negative in the short run, but utility-driven growth could soon underpin a stronger recovery. "If fundamental adoption trends persist, ICP has the potential to rebound once market sentiment stabilizes."

Earlier, analysts noted that Internet Computer had shifted to a more bearish technical outlook, with sellers maintaining firm control. The latest price action and persistent negative momentum indicators validate this assessment, making a break below the $2.77 level a critical risk to monitor in the days ahead.

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.