The cryptocurrency market continues its uptrend, with Internet Computer (ICP) once again being among the top performers.
Its price has risen by almost 40% over the last week, with some analysts arguing that the rally might be just starting.
History to Repeat Itself?
Earlier today, January 15, ICP climbed to $4.78, the highest point since the end of November 2025. In the following hours, it lost some steam and currently trades at around $4.30, a 9% increase on a daily scale.
Its solid performance has drawn analysts’ attention, with many of them claiming there is still fuel left for additional gains. One market observer found similarities between ICP’s recent uptick and the one witnessed two months ago, when the price surpassed $9.50, suggesting a similar move could be ahead.
It is important to note that the asset’s pump to almost $10 in November last year was short-lived, immediately followed by a significant downtrend. However, another analyst believes that ICP’s latest jump “feels much more organic,” and it seems not entirely led by hype.
“Volume looks great – it’s not just hype and big accounts shilling ICP. It feels like real demand,” he opined.
Other analysts who gave their insights on the matter suggested that ICP could experience huge volatility in the short term and eventually exceed $6. Another projection argued the token has completed its accumulation phase and is now heading toward the supply zone around $5.
“Once price is able to trade above the zone, upside movement will become dominant, and we could see a test of the $6.15 resistance area,” they projected.
Key Metric to Monitor
Contrary to the optimistic forecasts, ICP’s Relative Strength Index (RSI) suggests that a short-term pullback is also a plausible option. As previously reported on January 14, the metric surged well above 70, indicating that the price has increased too rapidly over a brief period and could be due for a correction.
Today, January 15, the index rose to a fresh two-month peak of approximately 85, reinforcing the probability of a downward move. Conversely, traders view anything below 30 as a buying opportunity.
