What you need to know:
- Internet Computer (ICP) is showing early signs of recovery following a return of declining channel support.
- Buyers are defending the $1.80 level, indicating growing accumulation and a stronger structure.
- Upside targets include $2.80, $4.50, $5.20 and possibly $7.60 to $17.50 on a breakout.
Internet Computer (ICP) is showing the first signs of a technical recovery, after recovering from the lower limit of a clear descending channel on the three-day chart.
According to According to crypto analyst Jonathan Carter, the reaction from this long-standing support zone suggests that buyers are intervening aggressively, defending the structure and trying to shift short-term momentum back into recovery territory.
The descending channel formation remains intact, preserving the broader technical framework that has guided price action for months. Strong near-support accumulation signals indicate growing confidence among market participants.
Higher lows on lower futures and stabilizing momentum indicators point to a developing recovery phase that could test upper channel resistance if persistent buying continues.
Also read: Internet Computer (ICP) forecast: break above $3.60 or fall to $1.40?
Internet Computer (ICP) eyes break out towards $17.50
If bullish momentum continues to build, the focus will be on the upside targets at $2.80 and $4.50 as initial resistance points.
The breakout could potentially lead to price targets of $5.20 and then $7.60. In case the recovery is strong, the macro targets of $12.00 and $17.50 could be in focus if the overall sentiment in the crypto space improves.
Source: Jonathan Carter X post
Despite the positive design, risk management is still important. A significant break below $1.80 will negate the current bounce argument and could leave ICP at risk of further selling pressure.
Investors are closely monitoring the expansion of cryptocurrency trading volumes and market trends to gauge whether the current upswing will continue as a trend reversal.
Momentum indicators point to decreasing pressure
According to TradingView, the RSI (14) is currently around 47.5, just below the mid-50s, showing a neutral to slightly bearish trend.
It has risen from lower levels and is gradually rising, showing that strength is increasing in the short term. It has yet to rise to levels above 60 to show that momentum is rising from the bullish side.
Source: Trading view
The MACD indicator (12, 26, 9) shows a weakening of bearish pressure as the histogram is slightly positive.
The MACD line is moving towards the signal line, still below the zero line, and is showing signs of recovery. However, to confirm the bullish move, the MACD line would have to move above the signal line.
Also Read: Internet Computer (ICP) Could Gain 85% If It Breaks $2.70 Resistance
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