Internet Computer eyes 50% move as ICP enters 'falling wedge' breakout territory By Cointelegraph

Internet Computer eyes 50% move as ICP enters 'falling wedge' breakout territory

Cryptocurrency Mar 23, 2022 10:20AM ET

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Internet Computer eyes 50% move as ICP enters 'falling wedge' breakout territory

The price of Internet Computer (ICP) reversed directions after falling to its record low near $14.50 on Feb. 24 and has rebounded by more than 30% ever since. And now, it appears the 35th-largest digital asset by market capitalization has more room to grow in the coming weeks.

ICP's daily chart shows a falling wedge pattern — a setup consisting of two descending, converging trendlines connecting lower highs and lower lows. The intersecting nature of the two lines indicates a weakening bearish momentum. As such, traditional analysts anticipate a breakout out of a wedge to be bullish.

ICP/USD daily price chart featuring a 'falling wedge' setup. Source: TradingView

ICP/USD daily price chart. Source: TradingView

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