ICP Price Surges 11%, Analyst Predicts Potential 750% Rally

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The Internet Computer Protocol (ICP) token has ignited renewed interest in the crypto market, surging 11.81% in the past 24 hours and trading at $8.67 as of the latest data. This sudden momentum follows a significant technical pattern known as a Hidden Bullish Divergence on the Relative Strength Index (RSI), signaling growing bullish sentiment among traders and analysts alike.

Crypto market analyst Javon Marks recently highlighted this promising development, suggesting that ICP may be poised for a dramatic long-term rally—potentially exceeding 750% gains from current levels.

Hidden Bullish Divergence Hints at Strong Reversal

Technical analysis plays a crucial role in predicting market movements, especially in volatile assets like cryptocurrencies. In ICP’s case, the emergence of a Hidden Bullish Divergence offers compelling evidence of underlying strength.

👉 Discover how technical patterns can reveal the next big crypto breakout.

This pattern occurs when the price forms lower lows, but the RSI forms higher lows—indicating that selling pressure is weakening despite declining prices. It often precedes a resumption of an uptrend, particularly after consolidation or pullbacks.

Javon Marks pointed to this exact scenario on ICP’s price chart, noting that such patterns historically precede strong upward movements. With this signal now confirmed, the path appears open for ICP to reclaim previous breakout levels and potentially push toward new highs.

The last major peak for ICP stood at $20.96**, a level that could now serve as a near-term resistance-turned-support target. However, Marks’ more ambitious forecast sets eyes on **$79.572, which would represent a staggering 129% increase from current prices—and over 750% from recent lows.

“With this target in play, an over 750% climb from here can take place with pullbacks only supporting further upside movement, and all that may be in the way is time.”

This optimistic outlook hinges not just on technicals, but also on improving fundamentals and growing adoption of the Internet Computer blockchain.

From All-Time Highs to Redemption Narrative

Launched in 2021 with immense fanfare, ICP reached an all-time high of $750, only to experience one of the most severe drawdowns in crypto history. Today, it remains down 98.84% from that peak, fueling skepticism and even accusations of being a "scam" within certain corners of the crypto community.

However, recent performance tells a different story. Over the past month, ICP has gained 24.11%, with a 19.69% increase in the last 24 hours alone. Since September 2023, the token has rallied 182.69%, significantly outperforming major players like Ethereum (ETH), which posted a 45.13% gain over the same period.

This resurgence reflects renewed confidence in the project’s vision: building a decentralized cloud computing platform capable of hosting web services, smart contracts, and dApps directly on the blockchain—without relying on traditional cloud providers like AWS or Google Cloud.

The Internet Computer’s Vision: Decentralized Cloud Infrastructure

At its core, the Internet Computer (ICP) aims to decentralize the internet itself. Unlike other blockchains that primarily focus on financial applications, ICP extends blockchain functionality to full-stack web development.

Key features include:

These innovations position ICP as a serious contender in the race to build Web3 infrastructure—a sector gaining increasing attention amid rising concerns over data privacy, censorship, and centralized control.

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As decentralized AI, social media, and cloud storage gain traction, ICP’s utility could expand beyond speculative trading into real-world adoption.

Market Sentiment Shifts Amid Broader Crypto Recovery

The broader cryptocurrency market has entered a recovery phase in late 2024, supported by improved macroeconomic conditions, growing institutional interest, and anticipation around upcoming regulatory clarity.

Within this environment, underperforming altcoins like ICP are seeing capital rotation as traders seek asymmetric return opportunities. With Bitcoin stabilizing above $60,000 and Ethereum ETF speculation heating up, risk appetite is returning to mid-cap and recovering projects.

ICP’s recent price action—from a low of $7.82** to a high of **$9.09 within 24 hours—reflects strong buying interest and short-term momentum. On-chain metrics also show increasing wallet activity and exchange outflows, suggesting accumulation rather than selling pressure.

Frequently Asked Questions (FAQ)

What is causing ICP’s recent price surge?

The surge is driven by a combination of technical signals—particularly the Hidden Bullish Divergence on the RSI—and renewed investor confidence in the Internet Computer’s decentralized cloud computing model. Increased developer activity and market-wide altcoin strength have also contributed.

Is ICP still down from its all-time high?

Yes. ICP peaked at $750 in 2021 and currently trades around $8.67, representing a decline of approximately 98.84%. However, its year-on-year performance since September 2023 shows strong recovery momentum with an 182.69% gain.

What does a 750% rally mean for ICP?

A 750% increase from the current price (~$8.67) would place ICP near **$70–$80**, aligning with analyst Javon Marks’ long-term target of $79.572. Such a move would require sustained adoption, positive market conditions, and continued technical strength.

Can ICP outperform Ethereum?

While Ethereum remains dominant in smart contract platforms, ICP serves a different purpose—decentralized cloud computing. It’s not necessarily about outperforming ETH in market cap, but capturing niche utility in Web3 infrastructure where low-latency, serverless apps are needed.

How does the Network Nervous System (NNS) work?

The NNS is ICP’s autonomous governance system. Token holders stake ICP to create "neurons" that vote on protocol upgrades, economic parameters, and network expansion—all without requiring hard forks. This enables seamless, real-time evolution of the blockchain.

Is now a good time to invest in ICP?

As with any investment, timing depends on risk tolerance and market outlook. The current technical setup is bullish, fundamentals are improving, and sentiment is shifting positively. However, given ICP’s historical volatility, investors should conduct thorough research and consider dollar-cost averaging.

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Final Thoughts: A Comeback Story in Progress?

ICP’s journey has been anything but smooth. From meteoric highs to near-oblivion, it has tested the patience of even its most loyal supporters. Yet, signs are mounting that the project may be entering a new phase—one defined not by hype, but by technological progress and sustainable growth.

With strong technical indicators, improving fundamentals, and a unique value proposition in decentralized infrastructure, ICP could be laying the groundwork for a major comeback.

While past performance is no guarantee of future results, the confluence of factors currently aligning around ICP suggests that this altcoin deserves closer attention—not just from speculators, but from those who believe in a truly decentralized internet.

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