- ICP gained 12.5% to around $3.30, while reported trading volume increased 61%.
- Analysts want a weekly close above $4.20 and a successful retest before confirming the recovery.
- Stolen funds discussions drew attention to ICP governance, without confirming an approved freeze.
The ICP price rose 12.5% to around $3.30 as analysts watched resistance that could determine the next recovery stage. Internet Computer briefly reached $3.40 after bouncing from $2.90 and reclaiming support near $3. Reported trading volume increased 61%, while daily turnover reached $45 million for the first time since June.
Internet Computer rally follows debate over stolen funds
The ICP price recovery coincided with debate about freezing assets stolen during the Bitget attack. The exchange reported losses of $387.5 million, bringing attention to efforts to stop the funds moving across networks.
According to the supplied account, Bitget CEO Gracy Chen urged THORChain to block addresses linked to the attackers. THORChain declined, citing its approach to protecting the protocol rather than restricting individual addresses.
DFINITY founder Dominic Williams said he would support a Network Nervous System proposal to freeze stolen funds. The NNS governs Internet Computer through proposals and votes from participants who lock ICP tokens.
Williams expressed support for cooperation between networks to deter theft. His position does not establish that a freeze was approved or implemented.
ICP price faces a weekly breakout test above $4.20 resistance
Crypto Patel said the ICP price had broken a multiyear descending trendline. He identified $4.092 as the next confirmation level.Â
His longer targets are $7.50, $15, $35 and $80, contingent on the recovery developing. He also reported a gain exceeding 75% from his accumulation zone.
Giannis Andreou placed the immediate hurdle between $3.50 and $4.20. He wants a weekly close above that range and a successful retest before strengthening his bullish outlook.
That ICP price scenario puts resistance at 5–6.30 first, followed by 8–10. Andreou considers 14–16 relevant only after those earlier levels are reclaimed.
Analyst Moustache highlighted a monthly falling wedge forming since 2021 and Stochastic RSI approaching a move above 20. A move above that threshold would suggest improving monthly momentum. Andreou said the weekly candle was still open.
Andreou said a move below $2 would invalidate the current base. Crypto Patel uses a higher timeframe close below $1.58 to invalidate his broader setup.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
