- ICP broke a long-term descending trendline, moving past $5 after months of consolidation, signaling renewed bullish momentum and investor activity.
- 24-hour trading volume reached $1.3 billion, reflecting strong liquidity, institutional involvement, and short-term momentum across the Internet Computer market.
- Top ICP subnets are supporting on-chain storage and AI computation, enhancing the network’s operational speed, efficiency, and adoption.
Internet Computers (ICP) has started upward movement following a long consolidation period. Recent technical developments suggest ICP could be entering a new phase of growth. This indicates renewed investor interest and momentum.
Breakout from Long-Term Downtrend
ICP recently broke above a descending trendline that had restrained price for most of 2024 and early 2025. The asset traded in a range between $3.00 and $5.00 for several months before the breakout occurred. The move above this horizontal range signals a potential shift in market structure.
Technical analysis shows rectangular zones that represented accumulation phases, with the final red box acting as a retest area before the price surged. The breakout candle is reinforcing bullish momentum and could target $12.00–$13.00 if the trend continues.
Volume activity has strengthened alongside price movement. The surge indicates renewed confidence among traders and may include short-covering activity. A minor pullback near $4.50–$5.00 could occur before additional upward movement resumes.
Trading Volume and Market Participation
IncomeSharks observed that ICP achieved $1.3 billion in 24-hour volume, ranking it eighth among all cryptocurrencies excluding stablecoins. ICP’s market capitalization is recorded at $4.18 billion, reflecting rising liquidity and investor engagement.
The asset has outperformed other major altcoins in the short term, with a 30-day gain of 164.8%. This is indicating that ICP has transitioned from bearish stagnation into a period of heightened momentum as the price remains supported above $7.20.
Exchange balances show further market movement. ICP tokens on Coinbase increased sharply from late September, peaking above 900,000 before falling toward previous levels. This shift indicates active participation from short-term market participants.
Performance Metrics and Short-Term Outlook
ICP leads in operational blockchain metrics, including speed, low cost, and eco-friendly performance. The blockchain supports on-chain storage and computation, enabling AI applications like Deepseek within smart contracts. Top ICP subnets reportedly perform more useful work than multiple major blockchains combined.
Short-term charts indicate ICP surged from around $6.36 to $8.50 before retracing slightly. RSI levels near 68 suggest a minor pause rather than a reversal. Traders are likely consolidating positions while momentum remains bullish.
Market data shows futures volume at $2.93 billion and spot volume at $612.58 million. Binance long/short ratios currently favor bullish positions at 1.65. If ICP maintains above key support zones near $7.00, the asset may resume upward movement toward $9.00–$10.00 levels.
