ICP Double Bottom Formation Hints at Bullish Rebound Toward $5-$18 Range

Internet Computer's chart just printed a classic reversal signal—and it's pointing north.

The double-bottom pattern on ICP's weekly chart suggests the brutal sell-off might be over. This technical formation, often a precursor to sustained rallies, indicates buyers are finally stepping in at these levels.

Targeting the Range

If the pattern holds, the measured move projects a climb back toward the $5 to $18 zone. That's not a moon shot prediction, but a realistic technical target based on the structure's depth. It would represent a significant recovery from current prices, shaking out the weak hands who sold at the bottom—a favorite pastime in crypto.

The Path Forward

Volume needs to confirm the breakout. Watch for increasing buy-side pressure as price approaches the neckline. A clean break above that resistance converts hope into a tangible bullish trend. Failure to hold, however, could see ICP retest recent lows.

Remember, in crypto, a 'double bottom' can sometimes just be the pause before a triple bottom—because why make things simple when you can maximize drama and trader despair?

ICP Eyes Bullish Rebound Amid Double Bottom Formation

Internet Computer also looks promising, as it establishes a clear double bottom formation, which also tests a major support level. According to analysts, it is critical to remain above the $2.761 mark to continue the upward trend. Otherwise, it may lead to a sharp decline to the $1.137 mark. The double bottom formation indicates that buyers are emerging to buy the token at this stage.

Source: X

The price forecast for the token is still positive across varying time intervals. The price is set to reach between $5 and $10, then $14, but a longer-term prediction states that ICP will cost $18 if market positivity continues. The current market activity is closely followed by traders, as the next market sessions will indicate whether the ICP will continue to rise or if there will be further consolidation.

ICP Struggles to Recover After Strong Rejection

Technically, ICP continues to be in a definite downtrend with lower highs and lower lows. The rally in November was decidedly rejected, creating a bull trap and indicating distribution. ICP is back to the $2.70-$2.90 support zone, testing cycle lows. Today, its momentum continues to be negative, with the RSI at about 40 (below the centerline and hence not oversold) and the MACD staying negative without a bullish crossover.

Source: TradingView

It is currently at the decision area in ICP. To FORM some kind of consolidation, it is currently necessary to hold current support levels. To suggest anything positive in regard to trends is to close above $3.50 during the week. Losses of $2.70 pose further risks of breaking out at $2.00 to $2.20 levels.

Also Read: Internet Computer (ICP) Set to Surge: Key Price Targets $4 – $17.50