Internet Computer (ICP) Price Testing Critical Resistance

Even though the ICP price faced rejection from the resistance zone during the first fortnight of the month, the token is again testing these levels. Interestingly, these levels coincide with a descending trend line and hence a breakout may elevate the levels beyond a 2-digit figure. Now that the trend appears to have flipped in bullish favour, the probability of a rejection could be lower.

As seen in the above chart, the ICP price is trading within a decisive symmetrical triangle and is very close to the edge. The price is facing some hindrance in entering the resistance zone, which suggests a small pullback below $8 may be fast approaching. However, this pullback may attract the required momentum, which could elevate the levels beyond $10 to reach $11. After securing these levels, the Internet Computer price is believed to begin a fresh rise by another 30%. $ICP