What to know:
- ICP price breaks above a descending trendline, signaling a potential shift toward a bullish recovery.
- A pullback toward the $2.00–$2.10 demand zone could determine whether the latest breakout remains valid.
- ICP’s TVL has climbed more than 10% in 30 days, highlighting improving liquidity and ecosystem participation.
Internet Computer (ICP) is showing signs of a potential bullish recovery for the ICP price after breaking above a descending trendline. A short-term pullback could test buyer strength, while rising TVL and growing RWA activity are improving ecosystem momentum and supporting hopes for a sustained recovery.
At the time of writing, LDO is trading at $2.24 with a 24-hour trading volume of $74.54 million and a market capitalization of $1.24 billion. Despite the 3.32% loss over the last 24 hours, the LDO price structure and network growth point to a bullish reversal ahead.
Source: CoinMarketCap
Also Read: ICP Price Tests Major Support While Transaction Records Signals Network Growth
ICP Price Targets $3.80 After Trendline Breakout
According to the crypto analyst BATMAN, the ICP price is facing its first major test after breaking above a descending trendline, potentially signaling a shift toward a bullish recovery.
However, the breakout for the ICP price has yet to prove its strength. The Stoch RSI is turning bearish from overbought territory, indicating that short-term momentum could weaken and trigger a pullback toward lower support levels soon.
Source: BATMAN’s X Post
ICP’s $2.00-$2.10 price level demand zone has become an important level for buyers. This price level is likely to confirm whether the breakout is valid and a base for the next move upwards should this level hold in the anticipated retracement. Persistent buying above this level may finally set the path to the $3.80 price level.
ICP Price Rises as TVL Surges Amid Growing Demand
The data from BSCN further highlighted that ICP’s ecosystem has once again gained traction owing to investments made into ICP’s blockchain-powered platforms.
As per DeFiLlama statistics, TVL of ICP increased by more than 10% in the last 30 days and by almost 8% over 90 days. At present, the TVL of ICP is around $13 million.
The Gold DAO platform, which focuses on RWA tokens, is behind most of the recent growth, as their TVL has grown by nearly 30% within just one week.
Meanwhile, the price of ICP has grown almost by 7%. As long as more RWA tokens are adopted and TVL grows, positive sentiments about ICP may continue growing too.
What Comes Next?
The ICP price could see a significant test near the $2.00-$2.10 demand region, depending on how traders perceive the new breakout’s strength.
If ICP stays above this support level, its bullish pattern will be reinforced and could allow for further gains towards $3.80. Moreover, consistent TVL increases and adoption of RWA could lift market sentiment.
Also Read: ICP Price Eyes Strong Recovery: Can the Token Reach Its $461 ATH Again?
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
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