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ICP crypto has been a consistently bullish performer since August, rallying 60.4% in just under two months.
The spot CVD has not begun to recover despite the price gains, and the funding rate was in negative territory. It indicated that the majority of derivatives market participants were leaning bearishly and expecting a local top.
This might set up the conditions for a short squeeze in the coming days. Can this propel ICP crypto beyond the June highs? On the monthly chart, there was a trendline resistance level that has been tested thrice since 2024. A monthly session close above this trendline has not occurred in nearly three years.
Traders’ call to action- Stay bullishFrom there, combined with the recent crypto market-wide enthusiasm, ICP crypto has managed to rally to the late-May highs around ICP crypto has been a consistently bullish performer since August, rallying 60.4% in just under two months. The $3.20 supply zone was being tested, and another breakout could be possible, given the strong demand behind the altcoin.
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