Why Is Internet Computer (ICP) Price Up? Analyst Highlights A Long-Term Bullish ‘U’ Bottom

ICP, the native token that powers the Internet Computer blockchain, has seen resurgent price action this past week, with a 15% pop in the last 24 hours alone. Key highlights:

  • 24H Low: $13.00
  • 24H High: $16.26
  • 24H Volume: $601 million

To understand this momentum, examining the Internet Computer’s ambitions provides context. In short, it aims to evolve blockchain infrastructure into a “world computer,” enabling software and systems to run in a decentralized manner without relying on traditional IT backends.

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This aligns neatly with broader “web3” decentralization trends. And as skepticism gives way to building real solutions, renewed investor interest in the internet’s long-term vision appears to be materializing.

Adding observations, crypto trader Flying High notes that ICP formed a constructive “U” bottom base before reversing higher. This signals traditionally bullish continuation potential. With prices achieving a weekly market structure breakout above $14, he sees dips likely finding buying interest down into the $10–11 zone.

In summary, while still in its early stages, Internet Computer’s uniquely ambitious decentralization roadmap combined with chart signals of bullish continuation indicates the ICP token may be gearing up for a more sustained move upwards. A clean breakthrough at the key $20 level is the next pivotal confirmation to watch for.

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Temitope Olatunji
Temitope Olatunji

Temitope is a seasoned writer with over four years of experience. He specializes in Web3 and FinTech topics and enjoys creating content in these areas. He holds both a bachelor's and master's degree in Linguistics. When not writing, he trades forex and plays video games.