Internet Computer (ICP) has shown strong bullish momentum recently. After consolidating around the $3.3–$3.5 demand zone, the price surged to a high near $4.7. A minor pullback followed, with ICP now testing the lower boundary of $4.4–$4.7 resistance. Breaking above this could open short-term targets of $4.7–$5.0.
According to crypto analyst @CW8900, immediate support sits at $3.5–$3.35, where buyers stepped in strongly. Secondary support at $2.65–$2.78 may act as a major floor if ICP corrects sharply.
Volume shows accumulation near $3.5, confirming strong demand. Downside risk targets are $3.5 for minor corrections and $2.65 for deeper pullbacks, keeping bullish structure intact.
Resistance zones exist at $4.4–$4.7 short-term and $6.1–$6.6 long-term, with $6.6 marking historical highs. Volume surged during the $3.5–$4.4 rally, indicating momentum strength.
Low pullback volumes suggest sellers are weak. Medium-term targets of $5.8–$6.2 are achievable, while a strong breakout could push ICP toward $6.6 in the long term.
Also Read: ICP Price Outlook: Bulls Eye $7.34 if Key Resistance Levels Break
Technical Weekly View Remains Cautious
From a technical perspective, the current position of the ICP in the weekly chart can be seen in the bearish to neutral region, as the price is below the 20, 50, 100, and 200 SMAs, set at approximately $4.85, $6.03, $7.11, and $7.65. After the strong downturn to the region of $2.00 to $2.50, the price was seen to have made a strong correction to the region of $4.14.
Major support lies around $3.90-$4.00, with stronger support around $3.20, and a strong breakout point around $2.00-$2.20. On the other hand, major resistance lies around $4.85, followed by $5.50-$6.10, with a strong supply point around $7.00-$7.65. For a continuation of an upward move, a close above $4.85 is needed, or else a decline towards the support points would follow.
Momentum Indicators Signal Stabilization
The RSI for the week is approximately 48.99, with the average at about 44.87. This means that momentum is in a neutral area, where it is neither overbought nor oversold. The RSI is currently moving upward from the low 40s, which indicates that selling is slowing down, and momentum is stabilizing, though it is not yet bullish.
The MACD histogram is just positive by a margin of +0.060. The MACD is at -0.4729 and remains below the signal line at -0.5333 and below zero as well. This is an indication that the negative momentum is easing. To get a stronger indication of a change in the trend, a bullish crossover and the MACD above zero would have been required.
Also Read: ICP Breakout Above Resistance Could Target $14 Pivot High
