Internet Computer [ICP] gained about 6%on September 29, climbing from the $3.15price level to about $3.33.
The daily rise is only part of the story, as ICP has now recovered roughly 60%from its August low near the $2.05price level. Although weakening social sentiment suggests traders are not fully convinced the rally will continue.
ICP recovery reaches a crucial point
ICP spent much of June and July moving lower before reaching its recent bottom in early August.
The recovery started slow but buying picked up during September. It reclaimed the $2.60price level, crossed $3,and continued toward its latest high near the $3.48area.
Looking at its current position above the main price averages shows that the recovery has developed for a while. What this means is that buyers have been able to maintain control for longer than a single trading session.
Trading activity has also increased as it approaches the $3.50price area. This shows how positive the advance is, but the latest candle shows some resistance near that level. The price reached $3.48before it went back toward $3.33.
Source: TradingView
That makes the $3.40–$3.50price area the next area to watch. If it moves beyond it convincingly, the recovery continues. However, if it fails, traders who bought earlier might want to take their gains.
Social confidence begins to weaken
ICPs social sentiment gauge also shows a more cautious picture.
Online discussion became more positive as it climbed through September. But that enthusiasm has since cooled, with the indicator dropping slightly below neutral even while the price continues to rise.
This does not mean a certain reversal. This is because prices can keep climbing even when sentiment is mixed. But what the change suggests is that there have been differences in the trends of confidence and the latest gains.
If ICP falls, the $3price area is the first important level to watch. If it holds above it, it would preserve the recent breakout and leave the broader recovery intact.
But a fall below the $3price level could bring the $2.70region back into focus. That area is close to where ICP traded before its latest rally began.
Some market commentary has raised the possibility of ICP reaching $10. But this would require it to gain around 200%from its current price. With no confirmed catalyst supporting that forecast, $10remains a speculative long-term target rather than a realistic near-term level.
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Final Summary
- ICP has risen roughly 60% from its August low and is now testing resistance near $3.50.
- Cooling social sentiment and rejection near $3.48 suggest the rally still needs confirmation.