Despite recent market downturns, Internet Computer (ICP) is showing signs of resilience. Crypto analyst Ali Martinez highlights that ICP’s price action suggests a potential surge in the coming weeks, bolstered by strong support above key resistance levels. 🤝
With its price hovering around $7.00 and holding firm above the crucial support level of $6.60, ICP is poised for a potential upward trajectory. This sustained support, according to Martinez’s analysis, could be the catalyst for a fresh market rally.
Martinez notes that if ICP manages to maintain this support and break through the $10 mark, it could trigger a new upward trend, attracting new buyers and potentially setting the stage for significant price gains.
The analyst further elaborates on how ICP’s recent performance, despite a downward momentum since early December 2024, indicates a potential breakout. This analysis is supported by positive indicators such as rising open interest in derivatives markets and increased network activity, showcasing growing investor confidence.
With the asset currently at $6.84, ICP benefits from a historically significant support zone. This level provides a solid foundation for further market gains.
In summary, while recent market correction has impacted ICP’s price negatively, its ability to maintain this crucial support and break above resistance levels suggests potential for a strong market rally in the near future.