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Technical Analysis of Internet Computer (ICP)

💰 Current Price: $5.68

📉 Change Percentage (Last Hour): -1.35%

⏱️ Time Frame: One Hour

📊 Ranking: 34th Cryptocurrency Worldwide

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

📈 The previous attempt to rise was strongly rejected, indicating that the area between $5.75 - $5.80 forms 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 continued downward trend 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 is advisable to wait for technical confirmation before entering, as there are no technical signals for a rebound at this moment of analysis.