Price Position and Structural State
Internet Computer (ICP) closed at 2.119 USDT on July 16, 2026, down 2.66%. The asset now sits in a sideways structure near the bottom of its 55-day range. Current 55-day support is near 2.032 USDT, with resistance near 3.222 USDT. A daily close below 2.032 USDT would confirm a downside regime shift. A hold near support would keep price inside the range.
Moving Averages and Trend Context
ICP is trading below all key moving averages. MA20 at 2.2039 USDT stands as the first moving-average resistance area to watch. Price sits 9.57% below MA50, within its historical distance range of -37.01% to 119.03%. The moving-average structure is bearish without showing extreme downside extension.
Trading Friction and Price Efficiency
ICP shows moderate trading friction, with a 3-day friction score of 50.3. The score combines price progress, wick rejection, and volume confirmation. Recent candles show mixed acceptance, so price is moving but still showing some noise. Moves near support or resistance need a cleaner daily close before they carry stronger weight.
Open Interest, Funding, and Positioning
Open interest increased +1.82% in one day but remains near the lower side of its 180-day range. This shows participation is improving from a low leverage base.
Funding is positive on the 24-hour average at +0.003608%, while the 7-day average is -0.002477%. This shows fresh long-side cost pressure rather than a sustained build across the week.
The long/short ratio is 1.10, sitting near the lower side of its 30-day range at 17.97%. This means long accounts only slightly outnumber short accounts, and the long tilt is weak compared with recent history.
Correlation, Beta, and Index Relationship
ICP shows a moderate relationship with the broader crypto market (Sigloid Index). Correlation indicates partial co-movement with the index, while R² suggests that index behavior explains only part of its movement. This means broader market direction has some influence, but asset-specific factors remain important. Over the 30-day window, the relationship is strengthening. Over the 60-day window, the relationship is stable. Over the 180-day window, the relationship is stable.
| Window | Correlation | Beta | R² | Read |
|---|---|---|---|---|
| 30D | 0.678 | 0.678 | 0.46 | Strong, lower beta |
| 60D | 0.465 | 0.727 | 0.216 | Moderate linkage |
| 180D | 0.625 | 0.877 | 0.391 | Strong linkage |
Momentum, Volatility, and Indicator Pressure
ICP remains in a low-volatility setup. ATR% reads 5.81, near the lower side of its full historical range, and Bollinger Band width% reads 10.57, close to the bottom of its full historical range. 20-day Volume Z-score is -0.87, so participation is not forcing a broader move yet.
MACD histogram has turned positive, while RSI is 40.45 and ROC14 is -3.33%. Short-term impulse is trying to turn first, but broader momentum and acceleration still lag.
The read is early: some pressure is improving, but the asset remains compressed. A better signal would need range expansion and stronger volume.
Broader Market Regime
The Sigloid Index remains in a sideways regime, showing no clear broad market direction. ICP has a moderate link to that market condition, so broader market moves can influence price behavior, but the effect is not consistent.
Key Levels for the Next State Change
For ICP, the next structural shift depends on range boundaries. A daily close above 55-day resistance at 3.222 USDT establishes a bullish regime, while a daily close below 55-day support at 2.032 USDT confirms a bearish regime.