Finding a leading cryptocurrency that remains in positive territory over the past week is difficult after the sharp market downturn in recent days. Yet Internet Computer (ICP) is one of the few gainers, and several analysts are projecting substantially higher valuations if current trends continue.
What’s Next?
While Bitcoin fell about 11% and Ethereum roughly 10% over the past week, ICP has gained around 3% and is trading just above $3. Its market capitalization has climbed to nearly $1.7 billion, placing it among the top 60 cryptocurrencies by market cap.
One key factor behind ICP’s strength is growing activity across the Internet Computer ecosystem. Popular X account BSCN reported that the protocol processed 7.2 million transactions in the past month—more than any other chain—while Solana recorded fewer than 3 million. Increased on-chain usage is contributing to renewed investor interest.
Traders and analysts have taken notice, offering bullish price targets. X user Crypto Tony suggested that a reclaim of $3.15 could open the door to long positions targeting $3.50 and $4, as long as price holds above that level. Javon Marks highlighted ICP’s move above $3 and projected a potential 220% rise toward $10, noting the token’s history of extreme price swings in earlier cycles.
Another analyst on X, Nehal, examined ICP’s price action and argued that a confirmed breakout above the descending resistance near $4.50–$5 could trigger a significant rally toward $8–$12, with $16+ possible if momentum accelerates. They cautioned, however, that rejection at resistance could push price back toward the $2–$2.50 support zone.
“Rejection at resistance could send price back toward the $2-$2.50 support zone,” they added.
Abandoning Exchanges
A shift away from centralized exchanges toward self-custody appears to support the bullish narrative. Data from CoinGlass shows that recent exchange outflows have outpaced inflows, suggesting holders are withdrawing tokens rather than selling them immediately.
On the technical front, ICP’s Relative Strength Index (RSI) sits in neutral territory but has been inching toward overbought levels, which can precede price corrections. The RSI measures the speed and magnitude of recent price moves on a scale from 0 to 100; readings above 70 often signal a potential correction, while values below 30 are typically seen as buying opportunities. At the time of writing, ICP’s RSI is around 62, implying room for further upside but also warranting caution.
Investors should balance the optimistic on-chain metrics and analyst targets with the possibility of resistance and broader market volatility. Continued network adoption and sustained outflows from exchanges would support the bullish case, while failure to hold key support levels or an abrupt market-wide selloff could reverse recent gains.