- Internet Computer price is consolidating near $4.70 support, with repeated rebounds indicating strong demand and potential accumulation from buyers.
- Technical structure shows ICP forming a mini descending wedge, with RSI suggesting weakening bearish momentum and scope for an upside breakout.
- Long/short ratios on Binance and OKX reveal stronger long positioning, as institutional and professional traders anticipate breakout continuation ahead.
Internet Computer (ICP) is keeping stability within a downward channel on the daily timeframe, consolidating tightly into key support-levels. With ICP trading at $4.70, traders are watching for a potential breakout.
Support Levels Driving Buyer Accumulation
For several months, ICP has moved within a downward-sloping range, bouncing repeatedly between channel resistance and support. The current zone near $4.50–$4.70 has been a strong demand area, triggering multiple rebounds in the past. Market volume patterns now indicate buyers are quietly accumulating, suggesting growing interest at these levels.
Jonathan Carter noted on X that ICP is “showing a critical technical structure” while respecting its channel. According to his analysis, price consolidation near the lower boundary indicates momentum could soon shift. The RSI reading is hovering near its lower band, signaling weakening bearish pressure.
A mini descending wedge inside the larger channel is also being tracked. If ICP breaks above this smaller formation, momentum could strengthen further, giving bulls a chance to push toward higher resistance zones.
Key Targets and Resistance Levels
Analysts point to several upside levels if ICP confirms a breakout. The first target is $6.10, which would mark a breakout confirmation and establish short-term strength. A move beyond this could see price reaching $7.30, a mid-range resistance point.
The $8.90 area is viewed as a liquidity zone where sellers have previously been active. Breaking above this level could validate stronger bullish momentum. The final key level identified in current analysis is $11.20, which represents a major resistance zone and possible gateway to extended rallies.
Carter emphasized that holding support near current levels could trigger a sharp reversal rally. Historical rebounds at these zones add weight to the ongoing market focus on price consolidation.
Trader Positioning Reflects Bullish Conviction
Beyond technical factors, derivatives market data shows a bullish skew among traders. Long/short ratios across leading exchanges indicate higher exposure on the long side, suggesting expectations of upward continuation.
On Binance, the ratio stands at 2.39, while OKX shows 2.08, both in favor of longs. Notably, top traders on Binance display stronger positioning, with account ratios at 2.51 and position ratios at 3.07.
This data suggests institutional and professional participants are preparing for potential upside. Combined with the observed technical structure, the market is closely monitoring whether ICP can break its current channel pattern.
