Key Insights
- ICP has formed a falling wedge pattern on the 10-hour chart, and is showing signs of a trend exhaustion and is signalling a potential short-term directional expansion.
- Weekly price action has defended the $3–$3.3 support zone, and is reflecting a massive liquidity sweep and stabilization after a prolonged decline.
- Shark wallets have accumulated 13.58 million ICP, as the coin leads social engagement and DePIN discussions, which has captured the sector’s attention.
Internet Computer (ICP) trades at $3.17 today. The coin is down 1.36% in 24 hours extending its weekly fall to 10.21%. Despite the decline, ICP bulls are showing resilience near the strong support near $3 and this led to forming a falling wedge pattern.
Additionally, shark wallets are actively accumulating, as social buzz around the token continues to rise. This trend is signalling that market interest is growing and this shows potential for a short-term bullish momentum.
ICP Falling Wedge Signals Building Short-Term Pressure
In a recent post in the social-media platform X, market analyst Clifton Fx, described ICP price movements over the recent months. The asset has formed a falling wedge on the 10-hour timeframe. This structure is showing a steady sequence of lower highs and lower lows, combined with contracting volatility.
Such formations are commonly associated with trend exhaustion rather, particularly after prolonged declines. Price behavior within the wedge is showing controlled distribution and very low selling pressure.
ICPUSDT 10H Chart / Source: X
Candles formed here are smaller, and have repeatedly tested the lower boundary and have failed to produce sustained breakdowns. This indicates that sell-side pressure is gradually being absorbed, a condition that is often seen before any meaningful directional expansion.
The analyst stressed that bulls need a clean breakout accompanied by a large buyers volume for confirmation of any trend reversal. Without that confirmation, ICP may continue to compress within the pattern, maintaining a neutral-to-cautious short-term posture.
ICP Weekly Structure Shows Defense of Long-Term Support
From a higher-timeframe perspective, the $3.0–$3.3 demand zone has acted as structural support since 2023,and has repeatedly attracted buyers during extended sell-offs. Recent weekly price action included a brief move below this zone, followed by a rapid recovery back above support.
That recovery suggests there was a liquidity sweep and it was not a decisive breakdown as many anticipated. Volume increased notably around the lows, and flowed consistently with the capitulation behavior but did not favour any renewed distribution.
Such reactions likely appear during the later stages of a markdown cycle, when weaker hands exit positions. Additionally, momentum readings have stabilised, weekly RSI has remained in the low-40 range.
This zone has historically preceded relief rallies and has formed base-building phases for ICP. As long as the support zone holds, prices have remained positioned to revisit prior consolidation levels higher on the chart.
On-Chain Accumulation and Social Dominance Shape the Narrative
On-chain data shows that there is a notable accumulation ongoing among shark wallets holding between 5,000 and 10,000 coins. This supply held this cohort and helped it rise sharply, to reach approximately 13.58 million tokens.
This marked the strongest accumulation phase ever recorded for this holder segment. Earlier reductions in shark-held supply aligned with periods of price weakness. This suggested that this was a temporary risk-off behavior.
The current reversal holds, pointing to a renewed conviction. Such accumulation phases mostly occur during compression and late-stage downtrends. The asset is leading in DePIN-related discussions by both post volume and engagement.
This is indicating that there is sustained attention rather than isolation. High interaction is relative to the ongoing participation. This is reinforcing its position at the centre of the sector’s current discourse.
