Internet Computer (ICP) has been increasing since Feb 24 and has broken out from both short- and long-term resistance levels.
ICP has been decreasing underneath a descending resistance line since reaching a high of $87 on Sept 6. The downward movement led to a low of 14.28 on Feb 24 (green icon). The price has been moving upwards since.
After two unsuccessful attempts, the price finally broke out (green circle) on Feb 28 and validated the line as support three days later. The price has been moving upwards since.
The closest resistance area is at $29.50. The area had previously acted as support from June to Dec 2021. Therefore, a breakout above it could greatly accelerate the rate of increase.
For BeInCrypto’s previous Bitcoin (BTC) analysis, click here
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