ICP trades within a falling wedge pattern while holding a strong demand zone, signaling an upcoming breakout opportunity.
Technical analysis shows ICP eyeing targets of $7.268, $9.675, and $11.488 as buying pressure builds near critical support.
Internet Computer consolidates between $4.183 and $5.500 with volume dropping, indicating weakening sell momentum and bullish setup.
Internet Computer (ICP) is trading at $4.985 with a daily loss of 2.70% on Binance. The asset currently forms a falling wedge pattern that began in December 2024. Price action has remained compressed between declining trendlines, suggesting a breakout could be imminent. Technical indicators point toward potential bullish continuation. Market participants are closely watching for confirmation as ICP nears a critical juncture.
The wedge structure includes two breakout points that shaped the current setup. The first breakout occurred in November 2024, when price surged out of a prior consolidation phase. It faced strong resistance and retraced, establishing the upper boundary of the wedge. The second breakout came in April 2025. During this move, the price briefly dipped below the wedge’s lower support line before rebounding quickly. This false breakdown marked a key buying opportunity.
Demand Zone Strengthens Technical Outlook
ICP is consolidating between $4.183 and $5.500, a range historically known as a demand zone. This area has consistently attracted buying interest during price dips. Consequently, buyers have maintained support and prevented deeper pullbacks. This zone also coincides with the wedge’s lower support, adding another layer of confluence.
Source: Lucky
Moreover, volume has remained relatively low, which is typical for falling wedge setups. Decreasing volume often signals reduced selling pressure, paving the way for bullish reversals. The compression of highs and lows is now nearing its climax. Hence, traders anticipate a possible breakout in the coming sessions.
Price Targets Indicate Strong Upside Potential
Technical projections suggest upside targets of $7.268, $9.675, and $11.488. These targets align with historical resistance levels seen in prior rallies. Green arrows highlight the expected upward trajectory post-breakout. The final target at $11.488 corresponds to a major resistance zone from earlier price action.
Additionally, the falling wedge appears to mirror previous continuation patterns that led to bullish extensions. The market structure remains intact despite the ongoing downtrend within the wedge. ICP continues to trade above its key support levels. This consistent defense further supports the bullish outlook.
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