ICP Price Attempts Recovery After Extended Downtrend
Internet Computer (ICP) is showing early signs of stabilization near the $4.00 support level, after months of persistent decline that pushed the asset to multi-month lows. The latest chart data indicates that ICP has formed a strong demand zone between $4.00 and $4.50, suggesting that selling momentum may be weakening as buyers begin to re-enter the market.
Over the past few weeks, ICP’s price action has moved within a defined descending channel, with multiple failed attempts to break the upper trendline resistance around $6.00–$6.50. After touching the lower boundary of this channel in early October, the token appears to be rebounding from the base of the range — a potentially constructive sign for short-term traders.
BITX Market analysts note that this accumulation phase could mark the beginning of a reversal if ICP sustains its position above the green demand area. “The $4 zone has acted as a major liquidity pocket,” one technical BITX strategist commented. “A daily close above $4.70 could trigger a push toward $5.50 or even $6, where the next resistance cluster lies.”
Volume analysis supports the view that buy-side interest is returning, as the recent sessions have seen slightly higher inflows compared to early September. However, the overall trend remains fragile, and ICP must establish a higher low formation before any substantial uptrend can resume.
If bulls fail to hold the current level, BITX analysts warn of a possible revisit toward the $3.50 mark, which represents the final support before fresh yearly lows.
Internet Computer is consolidating within a critical technical range, and its ability to stay above the $4.00 base will likely determine its trajectory heading into the final quarter of the year. A decisive breakout above $5.50 could confirm a medium-term trend reversal, while sustained weakness may keep ICP confined within its prolonged consolidation channel.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.