Internet Computer struggles to sustain recovery, with sellers regaining control near resistance levels
Internet Computer (ICP) is showing renewed weakness after a brief rally attempt failed to gain traction. Recent price action shows that selling pressure remains dominant, pushing the token back toward areas where buyers previously stepped in. Market structure and volume behavior indicate continued caution among traders.
Failed Breakout Signals Ongoing Distribution
After a sharp rebound earlier in the quarter, ICP attempted to reclaim higher price zones but was rejected near a well-defined resistance band. The market shows price stalling below prior supply levels, followed by a steady decline. This behavior points to distribution rather than accumulation, as sellers appear active on every bounce.
From a technical perspective, ICP continues to trade below its previous range highs and descending trend structure. Multiple lower highs and lower lows remain intact, keeping the broader trend tilted to the downside. The inability to hold above former support zones, which have now flipped into resistance, further weakens the short-term outlook.
The price is once again hovering near recent lows that previously attracted short-term buyers. A clean breakdown below this area could expose ICP to deeper downside, while a hold may invite another consolidation phase.
Key Levels to Watch
The highlighted demand zone near current prices represents a critical inflection point. A strong reaction here could stabilize price action, but without a surge in sustained buying volume, upside attempts may continue to fade.
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.