On January 2, the Internet Computer's token ICP experienced a notable surge, surpassing the $3 mark as trading activity intensified. According to the official information, this increase in trading volume, which rose by 17% within a 24-hour period, reflects growing interest among investors in the cryptocurrency market.
ICP Token Gains Momentum
The ICP token gained approximately 12%, trading around $3.02, effectively breaking through a resistance level that had previously fluctuated between $2.95 and $3.00. This breakthrough is significant as it follows a short-term recovery that began earlier in the week from the upper $2.80s range.
Importance of the $3 Level
The $3 level is particularly important for ICP traders, serving as a psychological threshold that could influence market sentiment. If the token maintains trading above this level, it may indicate a strengthening of short-term momentum, potentially attracting more investors and further driving up the price.
Despite the recent surge in ICP's price, the Internet Computer has faced significant challenges, including a notable price drop. For more details on this downturn, see the full article here.
