ICP Breaks Out of Multi-Year Downtrend, Analysts Eye a 10X Move Toward $70

Internet Computer (ICP) breaks its multi-year downtrend setting up conditions for a potential long-term market reversal.

The token is hovering near $7.70 Fibonacci support, and analysts are projecting bullish targets up to $71.42.

ICP/BTC pair surged 97.93% in a week confirming the strongest bullish move since 2021.

Internet Computer (ICP) surged 43.21% in 24 hours and over 196% over 7 days. It broke its multi-year downtrend, with strong bullish momentum and is still pushing toward key resistance levels and hinting at massive upside potential.

Macro Structure Points Toward a Long-Term Reversal

Analyst @JavonTM1 shared a chart showing ICP’s macro downtrend reversal structure. The analysis reveals that ICP has broken free from a prolonged descending trendline formed since its post-launch decline. This move could indicate the end of sustained selling pressure that has defined the token’s price action since 2021.

According to the chart, ICP has spent several months building a reaccumulation base between $3 and $14, suggesting that buyers have gradually absorbed supply. The latest surge past the $7 resistance level reflects growing market interest and stronger price momentum.

Analysts note that confirmation above the $10–$12 zone, supported by rising volume, would validate the broader trend reversal pattern and open room for further upside.The projection sets target near $71.42, aligning with a previous resistance area

Short-Term Momentum Builds as ICP Faces Key Resistance

Market watcher @CW8900 observed that ICP has reached its first sell wall after a sharp climb to around $7.70, gaining roughly 7.69% in the latest session. $5.78, $5.14, and $4.70 support zones correspond to visible volume increases, indicating accumulation from active market participants

The rising trendline continues to confirm ongoing upward momentum.ICP has already broken past the 1.0 Fibonacci extension ($6.60) and is approaching the 1.618 extension near $8.93 with targets extending toward $12.76.

ICP/BTC Chart Shows Strongest Bullish Move Since 2021

The ICP/BTC trading pair also shows an impressive shift in momentum. The latest weekly candle recorded an almost 97.93% gain, breaking through a multi-year descending resistance line for the first time since launch. The accompanying volume surge indicates genuine buying strength rather than short-term speculation.

Analysts observe that closing above this descending resistance would confirm a major structural breakout, signaling the end of ICP’s extended bearish phase. This move may attract new investors seeking exposure to early reversal opportunities within the project’s long-term cycle.

Key resistance areas remain near 0.0000010–0.0000013 BTC, while maintaining support above 0.000005 BTC would strengthen the bullish scenario. If sustained, this breakout could mark the beginning of a new accumulation phase and reprice ICP higher against Bitcoin.

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