ICP price retests key level: market outlook

Internet Computer token ICP traded to highs of $2.58 to extend its uptick. Gains came amid a notable spike in volume as crypto prices bounced higher. ICP could target $4.00 or higher, though risks of a sharp pullback remain. Internet Computer (ICP) price has retested the pivotal supply zone above $2.50 as bulls edge higher from the seven-day low near $2. The retest occurs amid broader recovery efforts across the cryptocurrency market, with ICP among the top altcoin gainers on the day. With prices up 9% in the past 24 hours, and volume up 93% to over $125 million, it’s likely bulls could target resistance at higher levels. Internet Computer price jumps above $2.50 ICP currently boasts intraday gains of about 9% over the past 24 hours, with the price currently trading down from its peak in the period. But having pushed from a low near $2, it appears bulls have their sight on more. Gains for ICP mirror broader market sentiment, where Bitcoin tested highs near $70,000 amid Nvidia-driven risk appetite. The AI narrative also pushed tokens like NEAR, Bittensor, and Render higher. The uptick to intraday highs of $2.58 sees the Internet Computer token trade at levels last seen in mid-February. ICP price technical picture From a technical standpoint, ICP’s retest of the $2.50 hurdle marks a potentially critical flip. The price action signals buyer interest, and a breakout from a long-term downtrend line is likely to strengthen. Bulls now need to successfully hold above this level to validate a bullish reversal pattern. Targets on the upside include resistance at $3.21 and higher levels. I will monitor if the price sustains above $2.50.