- ICP breaks a 7-month trendline, signaling a possible trend reversal and drawing increased market attention.
- Price action faces immediate resistance at $5.99, with support holding near $5.46 as traders await a confirmed breakout.
- Bullish target sits around $9.00, indicating potential for a 50–60% move if momentum sustains and volume supports the breakout.
After months of downward price pressure, Internet Computer (ICP) has officially broken through a long-standing descending trendline, signaling what could be a significant change in its market behavior. The breakout comes after nearly seven months of consolidation within a descending channel, which previously kept price action suppressed. This movement has caught the attention of traders as the price rose 8.8% to reach approximately $5.94 at the time of reporting.
ICP Breaks Long-Term Resistance, Eyes 50%+ Upside Potential
The daily chart shows that ICP had been following a declining resistance line since late 2023. This trendline acted as a ceiling, repeatedly rejecting upward momentum. The recent breakout through this resistance suggests a shift in sentiment.
Source: (X)
Traders are now considering the possibility of a larger upward movement, with some estimates placing the next price target near the $9.00 mark — an area representing a potential 50–60% rise from the breakout zone.
Key Support and Resistance Levels
Following the breakout, the nearest support has been identified around the $5.46 level. Meanwhile, immediate resistance is noted just below $6.00. If the current momentum sustains and ICP can close decisively above this resistance zone, it may validate the bullish bias. However, if selling pressure increases near the $6.00 mark, price action could revisit the support for consolidation.
ICP Breakout Signals Potential Upside, But Volume Remains Key
While the breakout has triggered bullish speculation, trading volume remains a key metric to watch. A sustained increase in volume would provide stronger confirmation of trend continuation. Without that support, there is a possibility of a false breakout. Market volatility around key levels also continues to create short-term uncertainty.
Internet Computer’s breakout from a seven-month trendline offers a technical signal of potential bullish momentum. As of now, the $5.94 level stands as a critical pivot in determining ICP’s short-term direction.
