📊Internet Computer price analysis has been in a sharp pullback for several days, suggesting that the bulls are rushing to the exit. The bulls will try to arrest the correction at the 20-day EMA ($11.18). If the price rebounds off the 20-day EMA with strength, it will suggest that the sentiment remains positive and traders are buying on dips. The bulls will then make another attempt to propel the ICP/USDT pair to $14.40 and eventually to $16.
➡️The risk to this assumption is that the RSI has formed a negative divergence, indicating weakening momentum. A break and close below the 20-day EMA will signal that the uptrend may be over in the near term. The moving averages have completed a bearish crossover, and the RSI is trading in the negative territory, suggesting that the short-term trend favors the bears. If the price skids below $11.70, the pair could plunge to $11 and then to $9.36.
➡️The bulls will have to push and sustain the price above the moving averages to signal that the correction may be over. That could start an up move to $15 and thereafter to $16. This level may again attract strong selling by the bears.
