Key Insights:
- Internet Computer (ICP) is on the verge of a breakout from a falling wedge pattern that could extend the bearishness or spark a bullish reversal.
- The ICP supply held by sharks kept increasing.
- ICP outpaced every other chain by Development Activity as per GitHub data.
ICP price prediction has indicated a possible bottom. This potential turning point aligns with its rapidly increasing development activity. The substantial progress in development enhances confidence in ICP’s prospects.
ICP Price Prediction: Can the Wedge Pattern Fuel a Bullish Breakout?
Looking at the daily chart, ICP price was near the tip of the declining wedge pattern. This shape often means that the price might soon change direction.
If the price rose above the uppermost line of the wedge, it would confirm that the price direction was reversing upward. Once that happens, ICP price prediction suggests the price could rise to $15.42.
This would represent a significant appreciation of 172.22% from the $5 price level. However, the $4.80 level remained a considerable resistance level that already capped upside attempts.
Failing to break this level could confirm the continuation of a downtrend. ICP price prediction highlighted a risk of dropping below the wedge’s support at approximately $4.70.
The MACD indicator showed early bulls, since the histogram went positive at 0.023. However, the MACD line of -0.235 still lags the signal line of -0.259. This implied that momentum was not entirely in effect.
If bulls take ICP above $5.00, one could be optimistic toward $7.00 and then toward $9.776. The breakdown, however, could move the price towards the $3.80–$4.00 level of support. This wedge pattern’s outcome will decide how ICP’s next considerable move will be made.
ICP Shark Accumulation: Key Driver for Future Market Trends
By mid-April 2025, the amount of ICP shark tokens held had increased to 13,287,894.60. The rise was from around 11,600,000 tokens back in early June 2024.
Over the previous 10 months, there had been a consistent upward trend in the number of tokens. Notable accumulation cycles occurred in August when holdings surpassed 12,200,000. In early 2025, a new peak was reached with holdings exceeding 12,600,000.
The fieriest peak was between March and April 2025, when the positions increased by nearly 400,000 tokens in weeks.
This continuous rise showed that large holders were optimistic about ICP’s long-term future. Thus, it could be the precursor to supply tightening.
Alternatively, if prices aggressively jump, it could also be positioning for distribution down the line. But if sharks did begin selling down, a price correction could occur due to increasing demand.
However, consistent accumulation could provide a solid foundation for an upside reversal. ICP price prediction suggested that future price action may depend on whether accumulation remains active or shifts towards distribution.
Either of these can significantly influence ICP’s trend in the market, depending on investor sentiment and overall crypto trends.
ICP Leads by Development Activity
ICP stood out as the most active crypto project over the past year. It achieved an impressive 6,151 GitHub commits, contributed by over 100 developers.
That was way ahead of MINA (3,687), LINK (3,403), and even Bitcoin at 3,028 commits by 99 developers. The other current projects were NEAR (1,444), SUSHI (2,452), and ATOM (2,600).
The high level of commits may reflect current innovation and technical advancement for ICP, reflecting favorable long-term fundamentals. However, growth will not necessarily drive price appreciation solely if user adoption and market demand are still lacking.
Extended use of this type can position ICP to excel with integrations and partnerships. However, soft investor demand can constrain near-term potential.