ICP remains above the descending triangle support, signaling strength and bullish potential.
Analyst Jonathan Carter points to targets of $5.60 to $8.80 if resistance is broken.
A 1.84% daily gain despite low volume reflects underlying investor confidence.
Internet Computer (ICP) is drawing the attention of traders and analysts because it has been standing strong above a critical support level, and it may experience a bull market recovery. Technical patterns are in harmony, and the price action indicates renewed energy; therefore, momentum may be developing in the market.
The recent statistics indicate a gradual recovery, even though the level of trading is low, which demonstrates a stabilization of the interest of investors in the long-term development of the project. With the expectation of breaking building up, investors are keenly watching to see whether ICP could surmount the barrier and aim at the posting of greater price levels within the next few days.
Carter Projects Bullish Targets After Support Test
According to Jonathan Carter, Internet Computer (ICP) is showing signs of technical resilience as it maintains price action above the lower boundary of a descending triangle formation on the daily chart. This critical support zone, which has historically prompted multiple rebounds, is currently being tested again, suggesting that a bullish reversal could be in play. Carter points to the structure of the descending triangle, noting that ICP has been trading within this pattern for several months, with each bounce from support forming higher lows in recent sessions—a signal of building buying pressure.
The analysis highlights several potential breakout targets should the current support level hold firm. These include price points at $5.60, $6.32, $7.30, and ultimately $8.80, indicating a possible rally if bullish momentum confirms. Carter emphasizes that the confluence of the 50-day moving average and volume profile peaks could serve as short-term resistance, but a decisive break above the triangle’s descending resistance trendline would bolster the case for a sustained upward move. With RSI levels hovering near oversold territory, market conditions may be ripe for a reversal in the coming weeks.
ICP Climbs 1.84% as Momentum Builds Near $4.60
Internet Computer (ICP) recorded a 1.84% gain over the past 24 hours, pushing its price to $4.60, as shown in the latest CoinMarketCap data. Even after a significant intraday drop to almost 4.30, the cryptocurrency recovered strongly throughout June 23rd, and at the end of the day was still up.
The market capitalization increased to a total of $2.46 billion, with the trading volume being significantly reduced by 26.52% to land at around a total of 65.58 million. The circulating supply is 534.8 million ICP, and the total supply is likewise 534.8 million ICP without a fixed maximum supply. Even with decreased trading levels, the performance of the token shows that investors are still optimistic about its performance and are showing their strength during the time of larger market changes.
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