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.
