ICP jumps 60% in bear-market relief; $3 flips support
Internet Computer (ICP) is up about 60% over the past week, with +15.8% in the last 24 hours. The report cites Glassnode data showing the AI tech sector leading performance (+~26% market cap), while L2 tokens follow (+~13.9% weekly).
For ICP trading, the key update is around $3. The article notes a cluster of short liquidations near $3, and that $3 has flipped to support within the last 36 hours—plus the prior range near the ~$2 swing low has already been broken. This strengthens a near-term breakout narrative toward higher resistance.
However, ICP traders are warned the bigger picture remains bearish. The rally is framed as a bear-market relief phase, with upside targets mentioned around $4.21 and $4.82. The write-up highlights Fib levels under pressure and suggests profit taking near the “golden pocket” overhead. A more durable bullish shift would require a sustained break above $4.82 to invalidate the bearish swing structure.
Bottom line for ICP: the $3 support flip can drive short-term upside, but risk management matters because this does not yet confirm a new bull market. Bitcoin back above $80K may help alts, but ICP must still prove strength above $4.82.
Neutral
Short term looks constructive for ICP because the $3 area is supported by a short-liquidation cluster and has flipped to support, and the prior ~$2 base/range has been broken. That combination can attract momentum buying and trigger further upside.
But the long-term framing remains bearish in both articles. ICP’s rally is treated as a relief move, not a confirmed regime change. Overhead Fib “golden pocket” profit-taking risk is highlighted, and the bearish swing structure is only invalidated by a sustained break above $4.82. Therefore, traders should expect volatility: upside attempts may happen, but follow-through is uncertain unless ICP clears the higher resistance levels convincingly.