ICP shocks the market with a 31% rally after hitting rock bottom | Credit: Hameem Sarwar
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Key Takeaways
ICP’s price has surged 31% after it broke above a descending triangle.
Over 4,800 mentions and 2.2 million interactions show market interest.
ICP could reach $7.48, but a failure to sustain support may trigger a pullback.
Internet Computer (ICP) isn’t dead. Instead, it’s pumping.
This is not what most market participants would have expected after ICP’s price hit an all-time low on Oct. 10.
But yes, it has happened. The altcoin has gained 31% in the last 24 hours, representing a 124%.50 % increase from its low.
How did this change, and what lies ahead for the cryptocurrency? In this analysis, CCN breaks it all down.
ICP Moves From Collapse to Comeback
Since Oct. 10, ICP has been trading within a descending triangle, a typically bearish pattern that suggests consolidation under pressure.
However, that formation has been invalidated, as ICP’s price has broken above the upper trendline, signaling a bullish reversal.
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A closer examination reveals that the Bull Bear Power (BBP) has reached its highest level this year.
This surge in strength has helped ICP maintain solid support at $2.92, while also enabling the token to break through resistance.
Additionally, the green line of the Supertrend indicator has flipped below the price, reinforcing the bullish bias and suggesting that buyers remain in control.
If this structure holds, ICP may extend its rally toward the next resistance near $5.16.
In the meantime, LunarCrush data indicates a notable increase in the number of ICP mentions compared to three months ago.
Specifically, there have been 4.85K posts and 2.21 million interactions mentioning Internet Computer over the last few days.
This rise in social activity reflects growing community engagement and rising market interest in the token.
Historically, spikes in social media mentions have been associated with higher trading volumes, suggesting that investor sentiment is shifting towards a more bullish outlook.
If this trend continues, the rising social traction could further fuel ICP’s price-extended rally.
ICP Price Analysis: Extended Reversal
On the daily chart, ICP’s price has broken out of a bearish pattern, signaling a potential shift in trend direction.
At the same time, the Awesome Oscillator (AO) has flipped into positive territory, confirming growing bullish momentum.
Additionally, the Money Flow Index (MFI) has risen above the signal line, indicating stronger buying pressure. If this setup holds, ICP could breach resistance at $5.41.
A successful breakout above this level may open the door for a rally toward $6.32, with a highly bullish extension possibly pushing the token to $7.48.
However, if momentum fades, this outlook could quickly change. In that case, ICP’s price might retrace toward $3.34 to retest support before attempting another rebound.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Victor Olanrewaju is a crypto analyst and reporter at CCN with deep roots in on-chain research and technical analysis. His crypto journey began in 2017, but it was the 2020 Uniswap airdrop that sparked a full-time pivot into the space.
With a foundation in copywriting, Victor honed his craft creating high-converting content for leading crypto brokers — most notably an XRP price prediction that ranked #1 on Google during the 2021 bull run.
He later joined AMBCrypto in 2022, where he combined storytelling with technical and on-chain analysis to cover key market narratives.
In 2024, he expanded his expertise at BeInCrypto, collaborating with analysts and using tools like Glassnode, Santiment, and IntoTheBlock to break down Bitcoin and altcoin trends.
At CCN, Victor covers the top cryptocurrencies, memecoins, macro shifts, blending real-time insights with deep-dive metrics.
He holds a Bachelor’s degree in Physics from the University of Ibadan, equipping him to simplify complex data for a wide audience. Follow his work or connect on LinkedIn or X.
