ICP Accumulation Intensifies as Traders Eye Multi-Year Support for Breakout

Internet Computer (ICP) is witnessing heightened trader activity, with Binance top traders steadily increasing their long positions, indicating strategic accumulation by larger market participants. According to recent data, the long/short ratio has risen from 1.80 to 2.40, reflecting growing confidence among experienced traders.

Intraday price movements have been volatile, fluctuating between $3.93 and $4.05, while market capitalization ranged from $2.12 billion to $2.19 billion. This volatility highlights active short-term trading and liquidity grabs, with V-shaped rebounds suggesting persistent buyer-seller dynamics.

From a technical perspective, ICP has maintained a strong support zone between $3.00 and $3.50 since 2022, with price repeatedly bouncing back from this level. Analyst Altcoin Pioneer notes a hammer pattern and bullish RSI divergence, signaling potential buyer control. Volume has shrunk near support, indicating seller exhaustion and quiet accumulation.

Price targets based on the descending channel include $6 to $8 for a mid-channel retest, $12 to $15 for cycle highs, and $25 to $30 for longer-term aspirations. A monthly close below $2.50 would invalidate this bullish structure. The ongoing upgrades, such as canister improvements and Bitcoin DeFi integration, add fundamental strength to ICP's narrative.