Internet Computer’s ICP token is showing technical signs of a potential rebound after bouncing from a key support level near $1.80. Analysts note buyers are defending this level, with upside targets identified at $2.80 and $4.50 if momentum continues, while a break below support could lead to further declines.
Internet Computer’s ICP token has shown early technical rebound signs after bouncing from the lower boundary of a descending channel on its three-day chart. According to analyst Jonathan Carter, this reaction suggests aggressive buyer activity at a long-standing support zone.
The descending channel formation remains intact, preserving the broader technical framework that has guided price action. Strong accumulation signals near support indicate growing confidence, with higher lows on lower timeframes pointing to a developing recovery phase.
If bullish momentum increases, initial upside resistance points are seen at $2.80 and $4.50. Further breakout potential could lead to price targets at $5.20 and then $7.60, with macro targets at $12.00 and $17.50 possible if overall crypto sentiment improves.
A significant break below the $1.80 level would negate the current bounce argument and risk further selling pressure. Investors are monitoring trading volume expansion and broader market trends to gauge whether the bounce will translate into a trend reversal.
Momentum indicators show decreasing bearish pressure, with the RSI (14) currently around 47.5 and rising from lower levels. The MACD indicator’s histogram is slightly positive, and the MACD line is moving up toward the signal line, though still below the zero line.
