The Internet Computer (ICP) has taken the crypto market by storm, with a four-week surge that has catapulted its value to an impressive high of $16.30.
This surge has been spectacular, with a parabolic trajectory displaying decisive breakouts from key resistance levels, indicating a significant shift in market dynamics.
The break from a long horizontal resistance zone that had persisted since April 2022 has been the most notable feature of ICP’s recent performance.
This zone had kept the price in check, posing a difficult barrier to further upward movement. However, in a remarkable turn of events, ICP overcame this resistance, signaling a watershed moment for crypto.
ICP demonstrated notable resilience during the preceding phase by establishing two lower lows, one in November 2022 and another in October 2023.
This resilience demonstrated ICP’s determination to overcome obstacles and gain momentum, laying the groundwork for the recent surge.
