In the last 20 days, the cryptocurrency Internet Computer (ICP) has shown impressive growth, increasing its value by 150%. This growth started in October 2023 and continued until it reached a peak of $16.30.

ICP overcame long-term horizontal resistance that had been holding its price since April 2022. After forming two lower lows in November 2022 and October 2023, the price began to rise, breaking through the descending resistance line. This breakthrough accelerated the price increase, leading to a significant rise in value.

Analysts and traders are optimistic about the prospects of ICP. Some compare it to Bitcoin and Ethereum, noting its potential as a revolutionary innovation. Experts believe that ICP has significant potential for further growth.

Technical analysis shows that the price growth of ICP has been parabolic since October. Elliott Wave analysis suggests that the price is in the fifth and final wave of this growth.

In case of a breakthrough, ICP could reach the next resistance level at $22, which is 50% higher than the current price. However, if there is a rebound from the $15.50 area and a bearish breakout, it could signal the end of the upward trend and a potential fall in price to the nearest support level at $9.30.