Internet Computer price is looking much more bullish following a breakout and retest of a descending channel pattern. This pattern was highlighted by a crypto analyst known as Crypto Charts on X, who pointed out that the breakout has already been confirmed and the price is now consolidating within a bullish flag.
If a breakout from this flag happens, ICP could be in for a major rally, with the analyst suggesting that the price might more than double from its current level.
What you'll learn 👉
Technical Indicators Support a Bullish ICP Price Outlook
Several technical indicators are also pointing in the bullish direction for Internet Computer price. According to the latest daily chart readings from Investing.com, most indicators are in favor of a continued price increase:
| Name | Value | Explanation |
|---|---|---|
| Relative Strength Index (14) | 65.958 | This RSI value suggests that the buying strength is strong but not yet overbought. It shows that buyers are still in control, and there’s room for further upside. |
| Stochastic Oscillator (9,6) | 63.24 | This indicates positive momentum without being in the overbought region. It signals a strong but healthy trend. |
| MACD (12,26) | 0.06 | A positive MACD value means that short-term momentum is higher than the long-term, which is a buy signal. |
| Average Directional Index (14) | 24.343 | This neutral reading suggests that the current trend is not very strong yet, but could gain momentum if price continues upward. |
| Commodity Channel Index (14) | 195.8178 | This high CCI value signals a strong bullish trend. It suggests that ICP price is experiencing strong upward pressure. |
| Rate of Change (ROC) | 0.703 | A positive ROC shows upward momentum, further confirming that ICP price is gaining strength. |
These indicators clearly suggest that buying activity is increasing and momentum is turning in favor of the bulls.
Moving Averages Are Also Signaling Buy for ICP
The moving average readings are equally encouraging for Internet Computer. Both the simple and exponential moving averages for the 20-day, 50-day, and 100-day periods are showing buy signals.
The 20-day simple moving average is currently at $5.35, while the exponential is at $5.33, and both indicate that the short-term trend is bullish. The 50-day simple is at $5.17 and the exponential at $5.21, both again flashing buy signals, which confirms that momentum is building over the mid-term as well. The 100-day simple moving average is at $5.02, while the exponential sits at $5.14, also showing a buy signal that supports a longer-term bullish trend forming.
These moving average levels show that ICP is gaining strength across all time frames, which supports the possibility of a larger breakout if the current momentum holds.
Read Also: Here’s How Much 20,000,000 Shiba Inu (SHIB) Tokens Could Be Worth in 2025
Conclusion: ICP Price May Be Gearing Up for a Strong Breakout
With the descending channel breakout confirmed and the current bullish flag pattern in place, the setup for Internet Computer looks very promising. The technical indicators and moving averages are all lining up in favor of further gains.
If the bullish flag resolves to the upside, ICP price could potentially more than double from here. For now, the market seems to be preparing for a bigger move, and all signs suggest that Internet Computer might be ready to lead the next leg of the crypto rally.
Follow us on X (Twitter), CoinMarketCap and Binance Square for more daily crypto updates.
Read our recent crypto market updates, news, and technical analysis here.
We recommend eToro
Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs.
Copy trading: allows users to copy the trades of leading traders, for free.
User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
