Internet Computer (ICP) has rallied to a three-week high after four consecutive days of gains, climbing from a recent low near $2 to reach $2.7. The altcoin, now trading around $2.5, has broken its falling trend and flipped key technical levels, supported by renewed whale-driven demand defending the $2.4 price point.
Internet Computer (ICP) closed at higher highs for four straight days after rebounding from a slip at $2. The altcoin climbed to a three-week high of $2.7 before seeing a slight retracement.
At the time of writing, ICP was trading at $2.5, marking a 10.7% daily increase and extending its weekly gains. This price pump allowed the asset to break its falling trend and flip the short-term EMA20 at $2.4.
Investors, especially whales, rushed to defend higher price levels after ICP rose to $2.4. Spot Average Order Size data highlighted a hike in Big Whale Orders at that level over the past three days.
The finding suggested whales intensified their activity, viewing $2.4 as key for upward momentum. These entities defended the level when the price slipped to $2.3, establishing a clear demand wall.
Demand also recovered across the spot market, as the Spot Taker CVD revealed buyers dominated at $2.4. This indicated whales were predominantly buying at that price, a sign of strong bullish sentiment.
ICP’s Stochastic RSI climbed to 99.9, hinting at overbought conditions while signaling a demand-driven upward move. When this momentum indicator makes such bullish moves, it can signal potential trend continuation if sustained.
The altcoin is now testing the short-term Moving Average (EMA50) at $2.7. A daily close above this level could see ICP target $3 and the EMA100 at $3.1.
However, if this bullish attempt collapses with sellers cashing out, ICP will seek support at $2.2. The current momentum depends on demand holding, particularly from the whale cohort that has recently entered the market.
