Internet Computer (ICP) continues to trade under heavy selling pressure, but technical signals indicate a possible short-term rebound as the token finds support near the $3.15 zone.
The Internet Computer (ICP) token has extended its losing streak, slipping to around $3.19 amid a broader market cooldown. Despite the downward trend, technical indicators suggest a potential short-term recovery as buyers attempt to defend the critical $3.15 support level. The asset’s recent move highlights the growing tension between bearish sentiment and bargain-hunting traders.
According to the daily chart, ICP remains trapped within a descending channel, continuing a multi-month downtrend that began after failing to sustain above $4.90 resistance. The token recently broke below a key horizontal support area near $3.30, triggering renewed selling momentum before stabilizing just above $3.15.
Market data shows that buying volume has started to rise modestly, suggesting that traders may be positioning for a relief bounce. If the token holds above this level, the next resistance to watch lies around $3.70, followed by a stronger supply zone near $4.30 — areas that have historically acted as profit-taking points.
BITX crypto market analyst explained, “ICP’s current structure shows oversold conditions, and if momentum shifts above $3.50, we could see a short-term reversal. However, failure to defend $3.15 may expose the token to further downside pressure toward the $2.80 range.”
Broader Market Context
The weakness in ICP mirrors the broader altcoin sentiment, as investors remain cautious amid fluctuating risk appetite. Despite recent volatility, some long-term holders appear to be accumulating, anticipating a rebound as the market stabilizes.
BITX Experts also point out that Internet Computer’s developer activity and ecosystem updates remain active, which could lend fundamental support once macro conditions improve.
While the Internet Computer token continues to face selling headwinds, the $3.15 support level is emerging as a key battleground for bulls and bears.
If buyers manage to sustain momentum from this zone, a short-term rally toward $3.70 could unfold — but a decisive move below $3.10 would invalidate the rebound outlook and confirm continued weakness in the trend.
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.