This ICP Metric Soars to a 2-Month High After 19% Surge: Pullback on the Way?
Internet Computer (ICP) is amongst the top-performing cryptocurrencies right this moment (January 14), with its valuation surging by over 19%.
However, one necessary indicator means that the bears would possibly regain management in the quick time period.
The Risks of an Incoming Correction
Just not too long ago, ICP pumped above $4, the highest degree since the starting of December 2025. Its market capitalization surged effectively past $2 billion, making it the 57th-largest cryptocurrency.
Despite the sharp rise, ICP’s Relative Strength Index (RSI) hints that a potential pullback could also be approaching. The technical evaluation device measures the velocity and magnitude of the newest value adjustments to give merchants a clearer view of whether or not a reversal is on the horizon.
It varies from 0 to 100, and ratios above 70 sign that ICP is overbought and on the verge of a decline. On the different hand, readings beneath 30 are interpreted as shopping for alternatives and will imply that the asset is oversold. On January 13, ICP’s RSI climbed to a two-month peak of virtually 80, whereas it presently hovers round 73.
Not Pushing the Brakes?
Contrary to the RSI alert, crypto X is stuffed with analysts who imagine ICP has no intention to decelerate anytime quickly. Earlier this month, X person Bitcoinsensus spotted a “huge bull flag” forming on the weekly chart, envisioning a potential breakout to as high as $14.
For their half, the analyst utilizing the moniker KNIGHT predicted a rally to $10 in the first quarter of the 12 months. X person CAPT. PARA8OLIC TOBLERONE additionally shared an fascinating forecast.
They suppose ICP may head south in the following months and drop beneath $1.30. However, after that, the asset might launch a main bull run, skyrocketing past $65.
Meanwhile, the latest alternate netflows reinforce the bullish situation. Data from CoinGlass reveals that outflows have surpassed inflows over the previous a number of weeks, suggesting that traders have shifted to self-custody, thereby decreasing fast promoting stress.
On the different hand, rising inflows imply that market individuals have transferred a few of their holdings into centralized platforms, which is usually seen as a pre-sale step.
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