A sudden surge always feels exciting until the chart cools off and reality steps in. Traders often describe that moment as the market catching its breath. Internet Computer sits inside that phase right now.
A strong run pushed ICP price up more than 200% from November 1 to November 8, then a sharp pullback trimmed almost half of those gains. The mood looks heavy, but the structure on the chart still leaves room for a shift that could surprise the market.
Internet Computer Price Shows Signs of Stabilizing
The chart shared by crypto investor Cade O’Neil on X paints a clearer picture of the Internet Computer price action. A tight area around $4.50 to $5 continues to attract buyers, creating a soft floor that keeps the ICP price from sliding deeper.
Cade pointed out that the market is extremely bearish across the board, though the Internet Computer token still holds firmer than many altcoins in this environment. His take suggests that anything above $4.2 supports the broader structure, which becomes important at a time when confidence is shaky.
A look at the chart reinforces his view. A heavy correction followed the November rally, sending the ICP token into the shaded support block just above $4.2. Price reacted immediately once it touched that zone, forming steady candles that show buyers are not stepping aside. This behavior often signals early attempts to stabilize after a large selloff.
ICP Token Needs Clear Signals Before Momentum Changes
The current setup leaves room for optimism, although the ICP price must prove that it can recover without relying on luck. Cade emphasized the importance of breaks above $6.4. That number sits inside a resistance cluster on the chart where previous candles failed to close strongly. A push through that area would show that demand still sits behind the Internet Computer token despite the broader market weakness.
The chart also shows a downward drift forming a mild curve toward the support range. That curve could appear when momentum cools but has not fully flipped into a deeper downtrend. If candles continue to respect the support block and avoid lower lows, the Internet Computer price could begin forming a base that prepares for a move higher once the pressure eases.
Internet Computer Could Flip Momentum If Structure Holds
A shift often begins quietly. Many reversals start with a simple pattern: price hunts a reliable support range, traders defend it repeatedly, and eventually a breakout follows. The ICP token sits at that first stage. A rising RSI from oversold territory adds another layer, suggesting that selling pressure has begun to fade.
If the Internet Computer token stays above the $4.2 line that Cade noted, the next task becomes reclaiming the mid zone around $6. A strong close above $6.4 would mark a clean break of the bearish structure and signal the early steps of a momentum flip. The chart shows a clear path toward the $7 zone if that level gives way.
The market environment still carries weight. Cade noted that a sustained run may require the larger crypto market to turn. Even so, the Internet Computer price appears more resilient than expected during this downturn, and that resilience keeps the possibility of a shift alive.