Internet Computer (ICP) Eyes $3.60 Breakout as Bulls Test Key Resistance Levels

The Internet Computer (ICP) is advancing decentralized finance with Liquidium’s cross-chain lending protocol, allowing users to borrow and lend across Bitcoin, Ethereum, and Solana in just a few clicks. Using ICP’s Chain-Key technology, transactions happen with native assets, removing the need for wrapped tokens or custodians and simplifying cross-chain DeFi.

Liquidium also provides a hassle-free and secure environment for lenders and borrowers. It enables users to have liquidity on various blockchains while maintaining control of their assets. It leverages the bridge provided by the ICP along with a user-friendly interface. This way, the solution eliminates friction and serves as a next-generation DeFi service.

Also Read: ICP Price Outlook: Bulls Eye $7.34 if Key Resistance Levels Break

ICP Tests Key Resistance as Bulls Eye $3.60 Breakout

However, the crypto analyst, Nehal, highlighted that ICP is displaying renewed strength as it tests the descending channel that has held back the price action for the last 37 days. Investors are eagerly awaiting a clear close above the historical downtrend channel, which might indicate the start of a positive phase for the token if the price manages to break away from the channel’s constraints.

Source: Nehal

A breakout above the channel would open up the possibility of reaching the $3.60 area in the near future. Experts say that if the momentum is harnessed, attaining double-digit prices is achievable in the near term. This would be a huge turnaround, grabbing the attention of traders and investors eager to grasp the upside potential of the cryptocurrency.

In addition to a select few altcoins, it appears that ICP is ready to start a new cycle. Observers of the market are noting that the closing price of today will prove to be crucial in determining the direction of the market. A successful start by ICP may give way to a recovery in the market in general.

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