The post ICP Price Sets Eyes On $7.80, But Will The Rally Sustain? appeared first on Coinpedia Fintech News
Internet Computer price just delivered a remarkable performance that has grabbed the market’s attention. Within the past day, the ICP price surged by 13.1% to $5.79, nearly doubling over the past week with an outstanding 93.13% rally. Amid a spike in market cap to $3.12 billion and $678.4 million in 24-hour trading volume, ICP blasted through persistent technical resistance.
This rally did not happen in isolation. Three key catalysts are at play, a classic technical breakout and excitement surrounding the Caffeine AI platform. And also, a surge in leveraged futures demand. With momentum at its back, ICP now stands at a critical technical crossroads that could define its next move.
Internet Computer Price Analysis
ICP crypto price has stormed past the multi-month descending trendline that capped its upside potential for weeks on end. The breakout above the $5.20 to $5.40 resistance zone triggered a sequence of rapid gains. Thereby, pushing the token to an intraday high of $6.19. Currently, ICP trades at $5.79, maintaining solid gains after briefly dipping to $4.74.
From a technical standpoint, the MACD histogram flipped positive with a reading of +0.33. The 7-day RSI shot up to 85.2, highlighting extremely strong conviction among buyers. Despite short-term pullbacks, the breakout remains valid as long as the ICP price holds above the prior resistance, now likely to act as support around $5.20–$5.40.
The next area that traders will be watching closely is the $6 range, which lines up with the next push higher. If ICP manages to close a daily candle above $6.10, technicals suggest room for a continued climb toward $7.80, a target visible on the chart. On the downside, support comes in at $4.72 and $4.05, followed by last week’s pivot level at $3.37.
FAQs
ICP’s breakout above a multi-month trendline and the $5.40 resistance level unleashed strong bullish momentum. This rally got a boost from the much-anticipated launch of the Caffeine AI platform and high-volume leveraged trading.
The RSI recently touched 85.2, which shows very strong upside momentum and possible overbought territory.
A daily close above $6.10 could confirm a continued move toward the $6.50 zone. If bulls keep the pressure on, the $7.80 target is the next major level on their radar.