(MENAFN- Crypto Breaking) In a surprising twist, Internet Computers (ICP) has surged by over $1 billion in market cap since the start of the month. This sharp increase comes as most altcoins experience significant losses. It has achieved a 75% gain, bucking the trend of falling prices. While other cryptocurrencies have been weighed down by factors such as the prolonged U.S. government shutdown and fears of slowing economic growth, ICP has shown resilience.

This rise is attributed to multiple institutional use-cases that position Internet Computer as a key player in the next phase of the internet. As traditional web services struggle with scale and cost, ICP is emerging as a competitor to industry giants like AWS. Its solutions cater to the growing need for blockchain-based applications with web-speed performance and scalable infrastructure.

Breaking Patterns and Charting New Grounds

ICP has recently invalidated a bearish descending triangle pattern that had threatened its market stability. A typical setup for a downtrend, the descending triangle was expected to prolong the token's struggles. ICP surprised the market by breaking upwards, which triggered a larger breakout from a year-long descending channel pattern.

This surge has opened the door for possible further gains. While the current momentum suggests a potential short-term cooldown, the breakout remains significant. The MACD histogram has shown a rapid increase, the fastest since the late-2024 bull market, signaling a potential shift. The risk of a short-term correction, many market analysts believe ICP could push toward a 90% gain, potentially reaching $10 in the near future.

Institutional Focus Drives ICP's Bullish Momentum

Recent upgrades to the platform, such as ICP 2.0, have enhanced its scalability and security features. The launch of Caffeine, an AI-powered app builder, has expanded ICP's utility, while improved cross-chain interoperability and deflationary tokenomics are fueling investor confidence.

The market shift towards decentralized technologies is strengthening ICP's role as a critical blockchain solution for institutions. As traditional web services are increasingly seen as expensive and limiting, ICP offers an alternative that aligns with the evolving demands of modern enterprises. This shift positions ICP as a leading Web3 solution, addressing issues of speed, scalability, and cost-effectiveness that central cloud providers struggle to manage.

Will ICP's Surge Continue or Will the Market Take a Breather?

The Relative Strength Index (RSI) is hovering near the overbought threshold, signaling potential exhaustion among buyers. Market participants who entered ICP during its recent rally may seek to lock in profits, leading to a short-term sell-off. A correction could bring the price down to the $4.20 demand zone, where a potential support level may form.

The breakout from the descending channel plays out fully, ICP could see a climb of up to 90%, reaching $10. Given the broader institutional interest and the growing Web3 narrative, there's also a potential for ICP to challenge its 2024 highs, with a 200% move bringing it closer to the $16 mark.

As institutional demand for scalable blockchain solutions grows, ICP is positioning itself as a significant player in the Web3 space. Whether the price can maintain its momentum will depend on broader market conditions and how quickly ICP continues to scale.

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