ICP Jumps 30% in a Week: What’s Fueling the Buzz and What Could Happen Next?

Over the last week, the Internet Computer (ICP) token has seen its price jump by an impressive 30%, drawing fresh attention from both investors and market observers. This notable rise, set against a backdrop of market turbulence, prompts important questions: What underlying blockchain trends and changes in investor outlook are driving this momentum? And what might be next for ICP?

On-Chain Activity: Whale Accumulation and Network Growth

Recent blockchain data points to growing confidence among major investors and institutions. Wallets with large

holdings have , suggesting that these players are strategically increasing their positions. This stands in contrast to typical bear market behavior, where large holders often sell off during declines.

Network metrics further validate the rally. The number of daily active addresses on the ICP blockchain has

, and transaction activity has reached its highest point in a year and a half. These figures indicate expanding usage and adoption, both of which are vital for lasting value. The uptick in transactions, in particular, shows that ICP is being utilized for its core decentralized computing functions, not just traded for speculation.

Investor Sentiment: Speculation and Retail Confidence

Analysis of investor mood reveals a blend of caution and optimism. Open interest in ICP futures has

, the highest in a year, highlighting increased speculative trading and leveraged bets. This jump suggests traders are more willing to capitalize on ICP’s price swings, a pattern often linked to short-term rallies.

Spot market data also shows encouraging accumulation. On November 18, 2025, ICP saw a

, reflecting that both retail and institutional investors are expanding their holdings. Still, technical signals remain cautious. The price is trading below the EMA-9 at $5.40, and repeated failures to stay above short-term averages have .

Retail trading patterns offer further clues. ICP’s decentralized exchange (DEX) volume hit $843.5 million during the week of November 18,

. This increase in DEX activity points to more retail traders seeking direct access to ICP, bypassing centralized exchanges. Moreover, , with traders closely watching resistance levels for possible breakouts.

Technical Analysis and Resistance Levels

From a charting standpoint,

has become a key focus for market participants. If the price can stay above the $5.23 middle Bollinger Band, it may signal early signs of stability, while a move past the R2 Pivot Point at $6.47 could open the door to a rally toward $8.25 . The RSI and MACD indicators also point to a bullish setup, with buying momentum increasing and a possible crossover .

Nonetheless, there are still risks. If the price fails to stay above short-term averages and leveraged positions remain dominant, a sudden shift in sentiment could trigger sharp pullbacks. Traders should keep an eye on trading volumes and whale activity for further signals.

Looking Ahead

The next few weeks will be crucial in determining whether ICP’s recent gains are a brief spike or the beginning of a sustained uptrend. Strong on-chain activity and growing retail confidence provide a solid base, but technical resistance remains. If ICP can hold above $5.40 and attract steady inflows, the $6.47 resistance could serve as a springboard for further advances. On the other hand, dropping below $5 could revive bearish sentiment.

At present, the data points to a market in flux. Continued whale accumulation and rising DEX volumes suggest faith in ICP’s long-term prospects, while increased speculation highlights the dangers of excessive leverage. Investors should weigh these factors carefully, using technical markers as reference points and staying alert to broader market trends.

The Internet Computer (ICP) is currently showing several important technical signals that could indicate future price action. Market watchers are monitoring the RSI for signs of overbought or oversold conditions, while the MACD is hinting at possible crossovers that may signal either upward or downward momentum. Together with price movements relative to key averages and support or resistance levels, these indicators are crucial for forecasting ICP’s next steps.