Internet Computer token grew by 90% in a week

! Not financial advice — ed.

On December 16, the price of the Internet Computer (ICP) cryptocurrency token reached a new annual high of $ 11.90. Cryptocurrency experts are discussing whether the little-known token, which has suddenly gained popularity, will be able to surprise the crypto industry.

The price of ICP has risen after hitting a low of $ 2.82 in September. At first, the growth was gradual, but it has accelerated over the past two weeks. Last week, the token rose by 90%. This acceleration led to the breakthrough of two resistance levels — diagonal and horizontal. on December 16, ICP reached a new annual high of $ 11.90. This was the highest price since May 2022.

At the time of writing, the token rose by 8.67% per day and is trading at $ 10.14. The coin’s market capitalization has reached $ 4.5 billion, and traders have made daily trading deals worth $ 288.5 million.

Despite a slight decline this week, altcoin is trading above both resistance levels.

The weekly RSI momentum indicator is rising and is above the neutral 50 mark, indicating a bullish trend. Nevertheless, cryptocurrency analysts on the X platform have mixed opinions about ICP’s prospects.

For example, Nihilus is bearish in the short term due to a potential breakout of the rising support line. The analyst highlighted the token’s target of $ 8 after the breakout of the trend line.

Tommyinvests, on the other hand, is bullish. He writes:

«1 gigabyte of data costs $ 5 on ICP.

The same on Solana costs $ 800,000.

The same on Ethereum is worth $ 15,494,409.

Everyone will know the name #ICP.

Theecosystem deserves it."

Finally, crypto analyst icircle believes that ICP will reach $ 100 in 2024 and $ 1000 in 2025.