🔎 Technical Analysis for Internet Computer (ICP)

💰 Current Price: $5.68

📉 Change Rate (Last Hour): -1.35%

⏱️ Time Frame: One Hour

📊 Ranking: 34th Cryptocurrency Worldwide

The ICP coin has shown a clear downward trend over the past hour, losing upward momentum after reaching a temporary peak at $5.77. The accelerated and smooth decline indicates high selling pressure with weakness in buyers' ability to defend nearby support areas.

📈 The previous attempt to rise was strongly rejected, indicating that the area between $5.75 – $5.80 forms a short-term resistance.

👈 Technically, the current movement shows a "descending staircase bottom" pattern, with no signs of a technical reversal so far. The price has stabilized near the lowest point during the hour, suggesting the likelihood of the downward trend continuing in the short term unless a clear reversal candle appears.

📌 Nearest Support: $5.60

📌 Nearest Resistance: $5.75

📉 Likely Scenario: Continued decline towards new support areas unless strong buying intervention occurs.

🚨 Alert: It's advisable to wait for technical confirmation before entering, given the lack of technical signals for a rebound up to the moment of analysis.