Internet Computer drops almost 13% after breaking below key moving averages

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Internet computer slides 12.78% today

Highlights

ICP/USD trades below all key moving averages, indicating persistent downside pressure across short-, medium-, and long-term periods.
Momentum indicators show a sell bias, daily price action is weak, and ICP/USD has fallen 12.78% to $2.25 with elevated volatility.
ICP/USD is expected to remain mostly sideways between $2.05 and $2.48 over the next five trading days, with a 77% probability of further decline.

Anton Kharitonov, expert at Traders Union, highlights the severe technical weakness in Internet Computer (ICP). He notes the price has broken below all moving averages, reinforcing a dominant bearish momentum. Despite no supportive news or external catalysts, downside risk persists, with volatility amplifying the risk profile. Kharitonov points out that buyers are failing to regain control even on short intraday reversals. He concludes, "With sellers clearly in charge and support levels under pressure, I remain skeptical about any near-term recovery prospects for ICP."

Viktoras Karapetjanc, expert at Traders Union, sees potential for opportunity despite the current drawdown in ICP. He emphasizes that the medium- and long-term bullish structure remains intact due to the configuration of key moving averages. Karapetjanc notes that present volatility and lack of adverse macro news open the door for swift rebounds. He highlights that bold traders can prepare for a favorable risk-reward setup if the $2.05 level holds. He states, "If support remains firm, the market offers multiple setups for aggressive buyers to benefit from ICP’s next upward phase."

Parshwa Turakhiya, analyst, believes short-term traders should watch for high volatility and quick sentiment swings in ICP. He sees the current sideways range between $2.05 and $2.48 as an area for tactical plays. Turakhiya points out that oversold and overbought signals may produce fast intraday opportunities. He remarks, "Momentum is fragile — nimble traders can capitalize on whipsaws, but strict stop-losses are essential in this zone."

Bearish momentum persists as short-term and long-term signals diverge

ICP/USD is trading below the 20-day ($2.51), 50-day ($2.88), and 200-day ($2.56) moving averages, a configuration that signals persistent downside momentum over both short- and long-term horizons. The nearest resistance stands at $2.26, with immediate support at $2.05. Medium- and long-term technical alignment remains bullish based on the 50-day versus 200-day moving average cross, but current action is weak. Momentum indicators including the MACD and ADX point to a sell bias. The RSI and CCI are neutral, while the Stochastic RSI is in the overbought zone, hinting at the risk of a corrective move without confirming a reversal. Bull/Bear Power shows buyers have a slight edge intraday, but daily price action is dominated by sellers, volatility is high at 11.06%, and the session low is testing support.

Earlier, analysts noted that Internet Computer was under sustained downward momentum as bears maintained technical control. The current breakdown reinforces this bearish scenario, with traders now closely monitoring the $2.05 support for signs of additional selling pressure or a potential reversal in the coming sessions.

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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