The post ICP Bullish Analysis Jan 21 appeared on BitcoinEthereumNews.com.

Internet Computer (ICP) is consolidating around $3.68 while maintaining its upward trend; however, the pressure from Bitcoin’s downward trend is accelerating the approach to the critical $3.59 support. In this analysis, we evaluate ICP’s short-term direction based on 11 strong levels from MTF confluences and signals from momentum indicators. Market Outlook and Current Situation ICP has fallen to $3.68 with a 1.61% decline over the last 24 hours, yet the overall trend structure continues to remain upward. The 24-hour range occurred between $3.59-$3.88, while trading volume holds high at $159.27 million compared to previous days. Although this volume indicates the presence of market participants, Bitcoin’s 2.20% drop and general altcoin pressure are making ICP cautious in upward movements. On the long-term chart, we see ICP moving within the upward channel formed after the rise wave at the end of 2025; however, the recent horizontal consolidation signals that bulls are holding their breath waiting for resistance tests. In the overall market, altcoins’ sensitivity dependent on Bitcoin dominance stands out as a key factor. Although ICP is supported by its own ecosystem developments in recent months (subnet expansions and dApp integrations), macro factors maintain their weight. The current price is positioned above EMA20 ($3.62), which gives a short-term bullish signal. Nevertheless, the Supertrend indicator’s bearish signal and the $4.92 resistance pose a major obstacle for upward movements. The increase in volume may indicate an accumulation phase before a potential breakout, but the lack of high downside volume shows no sudden panic selling. In a Multi-timeframe (MTF) context, a total of 11 strong levels were identified on 1D, 3D, and 1W charts: 1 support/2 resistance on 1D, 1 support/4 resistance on 3D, and 3 support/4 resistance distribution on 1W. This confluence emphasizes that ICP is at an important crossroads and has initiated a…

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Filed under: News - @ January 21, 2026 12:27 pm