Internet Computer Targets $79.57 Amid Strong Momentum and Breakout Recovery

• Internet Computer breaks a multi-year downtrend and eyes a potential 750% rally toward $79.57 resistance.
• Higher lows and rising volume support ICP’s bullish momentum, signaling a strong recovery after the October 2022 breakout.
• Consolidation above key trendlines suggests resilience, with traders targeting a breakout beyond the $79.572 resistance level.

The price of Internet computers (ICP) continues to display remarkable recovery, fueled by a breakout and consistent higher lows. ICP has changed into a positive structure after a protracted decline from late 2021 to 2022. The resistance level of $79.572, a key target in its current climb, is being watched carefully by analysts.

A Multi-Year Downtrend Breaks

Between 2021 and late 2022, ICP faced a relentless bearish trend characterized by lower lows and declining trading activity. However, October 2022 marked a pivotal moment as the cryptocurrency broke above its descending trendline. This breakout ignited renewed buying interest, supported by rising trading volume. The shift from a downtrend to bullish territory signaled the end of ICP’s prolonged slump.

Consequently, the price embarked on an upward journey with sustained higher lows. By mid-2023, a strong upward trendline became apparent, reinforcing the bullish momentum. Additionally, trading volume spiked during key trendline tests, indicating growing market participation.

Momentum Builds Toward Critical Resistance

The $79.572 price level emerged as a resistance point during ICP’s upward rally. After testing this zone, the price experienced a minor pullback. However, it stabilized above higher support levels, affirming market strength. Besides, the consolidation near this region suggests potential accumulation, setting the stage for another breakout attempt.

Moreover, ICP’s higher lows underline its bullish trajectory. This upward momentum aligns with an anticipated 750% price run toward the $79.572 resistance. Significantly, trading volume patterns reveal periodic spikes, underscoring strong activity during price movements.

Outlook for 2025

As of early 2025, ICP continues to trade above the previous breakout trendline. This sustained positioning signals resilience and potential for further gains. Furthermore, market participants remain optimistic as the cryptocurrency consolidates gains while holding above key support zones.

ICP’s ability to maintain higher lows reinforces its bullish structure, suggesting sustained upward momentum. Consequently, the $79.572 resistance remains a focal target for traders and investors. If breached, it could signal a continued multi-fold rally in the cryptocurrency’s price.