Internet Computer's $3.15 Showdown: Buyers and Sellers in High-Stakes Standoff

Internet Computer (ICP) has entered a critical phase as traders and analysts closely monitor its price action around key resistance levels. The token recently tested the $3.15 threshold, a level that has historically acted as a formidable barrier, before retreating to consolidate within a defined range. While the immediate outlook remains uncertain, technical indicators suggest a potential for a bullish breakout if the asset can overcome recent selling pressure and retest higher levels.

The rejection at $3.15 proved decisive, with ICP sliding 3.2% to $2.9891 on October 29, 2025. Trading volume surged 290% above the average during the selloff, underscoring the intensity of the bearish move, according to a CoinDesk report. The decline was accompanied by a breakdown below the $3.04 support level, compressing price ranges as the token stabilized near $2.97. This consolidation has created a narrow trading corridor between $2.97 and $3.15, with traders adopting range-bound strategies as they await a clear directional catalyst, the CoinDesk report added.

A partial rebound emerged on October 30, as ICP regained 1.04% to close above $2.92, reversing some of the week's earlier losses, according to a CoinDesk article. The recovery was fueled by increased buying activity, with volume rising 20% above the seven-day average. Technical analysts note that the token's ability to reestablish itself above $2.92—previously a key resistance—signals growing confidence among buyers. If ICP can maintain this level, it could serve as a springboard for a renewed push toward the $3.00–$3.04 zone, which has historically acted as a pivotal area for trend continuation, the CoinDesk article noted.

From a broader technical perspective, ICP remains in a consolidation phase, with its price action confined between $2.97 and $3.15. The failure to break above $3.15 has reinforced this ceiling as a psychological barrier, while the $2.97 floor has repeatedly absorbed downside pressure. However, the formation of higher lows (e.g., $2.80, $2.89, $2.92) suggests a gradual strengthening of buyer participation, as highlighted in the CoinDesk article. A sustained close above $3.00 would not only reverse recent losses but also validate the token's underlying bullish structure, potentially reigniting momentum ahead of November.

Market sentiment remains mixed, with traders closely watching volume dynamics to gauge exhaustion in the current range. While the recent rebound indicates resilience, the absence of a clear breakout has left the token in a state of indecision. Analysts emphasize that a decisive move beyond either end of the $2.97–$3.15 corridor—accompanied by a surge in volume—would be necessary to confirm a new trend. Until then, range-trading strategies will likely dominate, with short-term traders capitalizing on the defined boundaries, the CoinDesk report observed.

The Internet Computer's on-chain fundamentals, including its leadership in transaction throughput compared to other layer-1 networks, provide a backdrop of long-term optimism. However, near-term price action will depend heavily on the resolution of this consolidation pattern. For now, ICP oscillates within a well-defined corridor, awaiting a catalyst to tip the balance between bullish and bearish forces.