- ICP increased by 29.10%, decoupling from the broader market trend.
- ICP formed a bullish pennant, triggering a break through the $10.15 resistance.
- The cryptocurrency may hit $14 if it maintains the current momentum.
At a time when most cryptocurrencies were either consolidating or experiencing major declines, Internet Computer (ICP) defied the trend. According to CoinMarketCap, the ICP price increased by 29.10% in the last 24 hours.
This increase implied that the cryptocurrency whose value has hit almost 3x in the last 90 days could be the best-performing asset in the last days of 2023.
However, the surge might not be a surprise to ZAYK Charts, an analyst on X. On December 30, ZAYK posted that ICP had formed a bullish pennant on the 4-hour chart.
ICP Flips the $10.15 Resistance
A bullish pennant pattern occurs when an asset consolidates between converging support and resistance lines before making a strong upward move. After identifying the pattern, the analyst concluded that ICP could make a 20% to 30% increase.
At press time, ICP’s price was $12.95. From Coin Edition’s observation of the 4-hour ICP/USD chart, bulls had defended the $9.14 su…
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