Internet Computer (ICP) is showing early signs of a technical rebound, after bouncing from the lower boundary of a well-defined descending channel on the three-day chart.
According to the crypto analyst Jonathan Carter, the reaction from this long-standing support zone suggests buyers are stepping in aggressively, defending structure and attempting to shift short-term momentum back toward recovery territory.
The descending channel formation remains intact, preserving the broader technical framework that has guided price action for months. Strong accumulation signals near support indicate growing confidence among market participants.
Higher lows on lower timeframes and stabilizing momentum indicators point to a developing recovery phase that could challenge upper channel resistance if sustained buying continues.
Also Read: Internet Computer (ICP) Forecast: Break Above $3.60 or Slide to $1.40?
Internet Computer (ICP) Eyes Break Out Towards $17.50
If the bullish momentum continues to increase, the focus is on the upside targets at $2.80 and $4.50 as the initial resistance points.
The breakout could potentially lead to the price targets at $5.20 and then $7.60. In the event that the recovery is strong, the macro targets at $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 setup, risk management is still important. A significant break below $1.80 will negate the current bounce argument and may put ICP at risk of further selling pressure.
Investors are closely monitoring the expansion of trading volumes and cryptocurrency market trends to gauge whether the current bounce will continue as a trend reversal.
Momentum Indicators Point to Decreasing Pressure
According to TradingView, the RSI (14) is currently around 47.5, which is located just below the 50 midpoint, showing a neutral to slightly bearish trend.
It has risen from lower levels and is gradually rising, which shows that the short-term strength is rising. It still has to rise to levels above 60 to show that the momentum is rising from the bullish side.
Source: TradingView
The MACD indicator (12, 26, 9) is showing a weakening in the bearish pressure as the histogram is slightly positive.
The MACD line is moving up towards the signal line, still below the zero line, showing signs of a recovery. However, to confirm the bullish movement, the MACD line should move above the signal line.
Also Read: Internet Computer (ICP) Could Gain 85% If Key $2.70 Resistance Breaks