Buyers Defend Key Demand Zone Despite Lack of Follow-Through Momentum
Internet Computer (ICP) managed to stabilize above the crucial $3.40 support level, preserving a structure that has become essential for maintaining short-term market confidence. The chart shows how price reacted firmly within the broader demand zone, with early-session volume spikes signaling attempted accumulation, even though these moves were not strong enough to generate a sustained breakout.
The recent pullback into this support area followed a steep decline from November’s sharp rally, where price rejected cleanly from the upper supply zones between $7.00 and $9.00. That reversal shifted momentum downward, but the current defense of the $3.40–$3.00 region indicates that buyers are still active within this high-value demand block.
While the market structure remains fragile, the chart highlights several liquidity sweeps and internal break-of-structure points forming near the lower boundary. This suggests that smart money traders may be accumulating positions in anticipation of a recovery. However, a confirmed move above the $3.65–$3.80 resistance band is needed to open the door for a more meaningful upside attempt.
Volume remains a key factor. The brief spikes seen in recent sessions reflect interest, but without consistent follow-through, ICP is likely to stay range-bound between its immediate support and overhead supply.
For now, the outlook remains cautiously neutral. Holding above $3.40 keeps ICP in a defensible position, but a failure to maintain this support could expose the next liquidity pocket near $3.00. Buyers must reclaim near-term resistance soon to shift sentiment back in their favor.
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.