Analysts see renewed bullish momentum as Internet Computer breaks out from key technical pattern
The Internet Computer (ICP) token has stunned traders with a 30% surge in the past 24 hours, outperforming most major cryptocurrencies. After months of subdued price action, ICP has broken above a long-term descending wedge pattern, signaling a possible shift from accumulation to a sustained bullish trend.
ICP breaks out of a year-long wedge pattern
According to on-chain data and market charts, ICP had been trading inside a tight falling wedge since late 2024, consolidating between $3.0 and $6.0. The latest breakout propelled prices above $6.80, its highest level since May, supported by a sharp spike in trading volume across major exchanges.
BitXJournal Market strategist noted that “the breakout above the $6.5 resistance is technically significant. If the price sustains above this level, ICP could retest the $9.0 area in the coming sessions.”
The move was accompanied by a clear rejection of the lower support near $3.2, a zone that had acted as a strong demand area since early 2025. Analysts suggest that the $3.0–$3.3 region will now serve as a critical support base if the market retraces.
Renewed investor confidence
The momentum shift in ICP mirrors a broader recovery in altcoins following renewed optimism around decentralized infrastructure projects. “Internet Computer’s breakout represents a strong comeback narrative,” said digital asset analyst Ryan Lee. “Institutional traders have been watching for technical confirmations like this before re-entering.”
With daily trading volumes exceeding $21 million, the surge reflects rising investor participation rather than speculative spikes. However, experts caution that maintaining the breakout zone above $6.0 will be essential to confirm long-term reversal momentum.
If current price levels hold, ICP could target the $8.5–$9.5 range over the next few weeks. Failure to hold above $6.0, however, may trigger a pullback toward the $4.0 support area.
The recent price action underscores a strong shift in market sentiment, suggesting that the Internet Computer network may be regaining attention as one of the few blockchain projects showing tangible momentum after months of stagnation.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.