Key Takeaways
- ICP is currently trading at around $3.78; the price has increased by more than 7% in the past 24 hours.
- The 24-hour trading volume has surged by around 74%.
- The major event that drove the price of ICP is a short-squeeze phenomenon.
- ICP is projected to hit $4 in the upcoming week, if the market does not face any major macro or technical tailwinds.
The Internet Computer (ICP) is currently trading at around $3.78; the price has increased by more than 7% in the past 24 hours. The market cap touched $2.04 billion. The 24-hour trading volume has surged by around 74% to reach $466.67 million. The token is trading above the 10-day EMA. The price is also above the 10-day Simple Moving Average of 3.306.
What Exactly is Internet Computer (ICP)?
The Internet Computer is a public blockchain network by DFINITY Foundation. According to the proponents of the project, the blockchain can replace clouds and traditional IT. The platform allows building apps on blockchain. Unlike the traditional systems powered by a few powerful corporations and their big data centers, the ICP protocol is controlled by independent computers. It follows the principle of decentralization, and the platform envisions making smart contracts as powerful as the software.
What’s driving the Price of ICP?
The major event that drove the price of ICP is a short squeeze, where short sellers betting on a price drop were compelled to buy ICP as its value unexpectedly rose. The buyback has created a feedback mechanism that further pushes the prices up. The rally began with a bounce from a key Fibonacci support level at $3.33. Beyond the short squeeze, the technical signals are sending strong buy signals.
The token has overcome the technical resistance of $3.75. If the ICP is able to hold the current level, it could test the 4.248 resistance level. So far, the all-time high reached by the ICP was $4.30 back in 2021. The recent ecosystem developments, such as the launch of the Caffeine AI platform built on the ICP blockchain, have generated a positive outlook about the platform. The Caffeine AI is a platform that facilitates building full-stack applications from natural language prompts.
Price Prediction: Will Internet Computer Reach $4?
The ICP is expected to hover around $3.71 in the next 24 hours. If the token can hold the $3.7 level, the price is expected to cross 4 dollars this week, given that the crypto market does not face any major macro or technical tailwinds.
| Date | Day of week | Daily Low | Daily High | Average |
|---|---|---|---|---|
| 04/11 | Tuesday | $3.69 | $3.72 | $3.71 |
| 05/11 | Wednesday | $3.66 | $3.67 | $3.67 |
| 06/11 | Thursday | $3.45 | $3.58 | $3.52 |
| 07/11 | Friday | $3.47 | $3.54 | $3.51 |
| 08/11 | Saturday | $3.53 | $4.26 | $3.9 |
| 09/11 | Sunday | $3.98 | $4.89 | $4.44 |
| 10/11 | Monday | $4.32 | $4.84 | $4.58 |
ICP Coin Price Prediction 2025-2030
The price of the token is expected to go up in the upcoming years, with the ICP coin price prediction 2030, projecting an average price of $30.
| Year | Min Price (USD) | Avg Price (USD) | Max Price (USD) | ROI (Avg% %) |
|---|---|---|---|---|
| 2025 | 4.5 | 5.2 | 6 | — |
| 2026 | 6 | 7.5 | 9 | 0.44 |
| 2027 | 8 | 10.5 | 13 | 0.7 |
| 2028 | 12 | 15 | 18 | 1.3 |
| 2029 | 16 | 20 | 24 | 1.7 |
| 2030 | 22 | 30 | 36 | 2.3 |
The Bottom Line – ICP Crypto Price Prediction
Currently, ICP is outperforming most of the layer 1 tokens; the current rally is expected to continue for the next week if the macro environment remains favorable. The investors are advised to keep a close watch on the developments regarding the evolving debate on Fed rate cuts, upcoming labour data release, and the U.S government shutdown. In the long run, the technological competence of the ICP platform will become the most crucial factor in deciding the future trajectory of its native token.