The key trendline to watch on Internet Computer

Internet Computer Protocol (ICP) is a cryptocurrency that remains well off its prior highs, and the drawdown has been significant. From its highs in November, ICP is down over 76%. From the highs earlier this year, it is down more than 52%. Those are meaningful declines by any standard, and they have kept ICP firmly under pressure for months.

In my view, much of this downside was driven by the broader weakness in the cryptocurrency market, particularly the decline in Bitcoin’s price. When Bitcoin pulls back sharply, it tends to drag the rest of the market with it, and ICP was no exception. As Bitcoin sold off, risk appetite across crypto faded, and ICP followed suit.

Despite the magnitude of the pullback, I am now focused less on what ICP has done and more on what it could do next from a technicals standpoint. There is a key trendline that I am actively watching for a potential shift in momentum. This trendline can be drawn from the highs in November down to the highs made last month, and it has acted as a clear point of technical resistance.

If ICP is able to break up and above this trendline, it could signal a meaningful change in direction. A confirmed move through that level would suggest that sellers are losing control and that buyers are beginning to step back in. From a technical analysis perspective, this kind of break has the potential to open the door to explosive upside, especially given how extended the prior decline has been.

For those less familiar with ICP, Internet Computer is a cryptocurrency that has experienced extreme volatility since its peak, making it a name that demands close attention to price structure and trend behavior. Its sharp moves both higher and lower highlight why technical analysis and disciplined execution matter when trading assets like this.

I always approach situations like this with patience and respect for risk. No matter how compelling a chart may look, proper risk management is essential when trading cryptocurrency. I am watching this trendline closely, but I will always let price action confirm the thesis before acting.