The Internet Computer (ICP) market is currently undergoing a significant correction after a strong uptrend earlier this year. Traders and investors are closely watching the 1-Day (1D) chart for ICP/USDT as the price seeks stability after a sharp decline from its recent highs.
⚡ Sharp Decline from Recent Highs
ICP reached a peak around $9.50 in early November, but a strong wave of selling pressure pushed the price down rapidly. The correction has been steep, reflecting:
Profit-taking by traders
Reduced buying momentum
A shift in market sentiment toward caution
Currently, ICP closed around $3.532, marking a substantial decline from its previous highs.
🐻 Bearish Trend Across All Moving Averages
ICP’s price is now trading below all major Moving Averages, indicating a strong short-term and medium-term bearish trend:
MA(7) – Yellow Line: $3.593
MA(25) – Pink Line: $4.220
MA(99) – Dark Purple Line: $4.390
Being below all three MAs suggests that the market is under heavy selling pressure. Bulls need to reclaim these levels to signal a potential reversal.
🧱 Immediate Resistance Levels
The first levels to watch for any short-term recovery are:
MA(7) at $3.593 — currently acting as the nearest resistance
Previous support now turned resistance at $3.788
If ICP fails to overcome these two levels, the price could continue its downward trajectory.
🏔 Major Hurdle for a Trend Reversal
Even if the price climbs above the immediate resistance, the bulls face a significant challenge: breaking the cluster of MA(25) and MA(99) between $4.220 and $4.390.
Reclaiming this zone is essential for:
Re-establishing bullish momentum
Signaling a potential medium-term trend reversal
Attracting institutional and retail buyers
📊 Volume Insights
The recent selling volume has decreased, indicating that the selling pressure may be slowing. However, ICP has not yet stabilized, which means caution is warranted. Traders should observe:
If the volume rises during an upward attempt, it may signal renewed buying interest
Weak volume during recovery attempts could indicate a failed bounce
🎯 Key Observation
ICP is currently deep in a significant correction. For short-term stability, the following actions are critical:
Hold above MA(7) at $3.593
Reclaim $3.788 as support
Watch for sustained buying volume to confirm recovery
Until these conditions are met, the market remains vulnerable to further downside.
⚠️ Conclusion
Internet Computer (ICP) is in a delicate phase. While there are signs that selling pressure may be easing, bulls must reclaim key moving averages and support levels to stabilize the price. Market participants should remain cautious and monitor price action closely before making decisions.
📌 Disclaimer
This analysis is for informational purposes only. Not financial advice.
ICP is extremely volatile; always trade responsibly and DYOR.
