Is ICP Crypto Price Slated For Major Bounce Amid Rising ICP Network Recognition?

Key Insights

• Internet Computer unveiled major network upgrades and a new DeFi platform, fueling speculation of a price rebound.
• Despite stronger fundamentals, ICP futures traders remain cautiously bearish as short positions continue to outnumber longs.
• Analysts are watching the $2.30–$2.40 resistance zone, with a breakout potentially opening the door to a move toward $3.00.

Traders have watched ICP crypto bleed for months, but fresh network upgrades and a massive DeFi reveal just dropped. ICP Network founder Dominic Williams revealed an upcoming major upgrade that will further improve the chain’s performance.

Network performance is a key reason why ICP crypto has been receiving the spotlight lately. ICP network already ranks among the fastest networks with approximately 1,000 to 5,400 transactions per second (TPS) and the capability to scale infinitely.

Network Upgrade Fuels ICP Price Prediction as Founder Drops Major DeFi News

The Internet Computer rolled out a major network upgrade that strengthens security and pushes transaction speeds higher. Data now shows ICP now competes directly with top chains like Solana in raw performance.

Network activity climbed alongside growing recognition as developers and users increasingly saw ICP crypto as a legitimate contender, and not just another layer-1.

On 6 July, Williams announced MULTI/DEX, the world’s most advanced DeFi platform, would drop in game mode later this week. The launch will include full source code access for community review.

He noted that players would receive $100,000 in demo funds to compete, and the team planned to offer it to the NNS for autonomous, ownerless execution. This setup aims to execute speeds similar to those of centralized exchanges while staying true on-chain DeFi.

ICP has gained recognition as a serious player on security and transaction speeds, and the latest upgrade cements its edge. While many chains talk big, ICP has delivered one of the fastest networks and continues to push the limit.

This technical foundation sets ICP crypto apart, but is price following the fundamentals?

Downward Pressure on ICP Price Eases Amid Bullish News, Reversal Coming?

The ICP/USDT price chart shows the asset recently hovering near $2.16–$2.20 after a tough month. Charts show the cryptocurrency broke below key moving averages in the 1-hour chart, with RSI sitting neutral around 45-47, not yet oversold but momentum has cooled.

Bears controlled the tape lately, but higher-timeframe support levels near $2.10–$2.20 have held in past bounces. Volume remains decent on dips, and a successful retest here with the positive network news could spark a sharp relief rally.

Many ICP price prediction calls now target $2.50–$3 if it clears immediate resistance around $2.30–$2.40. The cryptocurrency is currently hovering near a major descending trend line, where a surprise breakout might be in the offing.

Futures Traders Remain Bearish Despite Good News

Futures traders don’t share the same sentiment as ICP holders. Coinglass Liquidation Map data shows a huge cumulative short liquidation leverage ($1.55 million) compared to corresponding longs ($1.07 million).

This imbalance suggests ICP price is poised to drop lower due bearish sentiment on the charts. A deeper dive into the chart shows key potential support and resistance zones for ICP price around $2.12 and $2.24.

While futures data and fundamentals clash, it is important to note that price has always taken some time to catch up to news. Depending on the asset in question, price can react quickly or slowly. It seems that ICP could be in the latter category.

The Coinglass Long/Short ratio data further support a more mixed market rather than a bullish one for ICP. The latest L/S data is 0.9194, aggregated across 3 major exchanges (Binance, OKX, and Bybit), with Long volume at $28.46M and Shorts at $ 29.54 M.

This data suggests that ICP is currently slightly more bearish than it is bullish since a long/short ratio is below 1. It means short positions outnumber long positions in the market.

However, given how close those volume figures are and how tight ICP price is consolidating around the $2.2 zone, it is possible the news has not yet been priced in. Traders and investors remain keeled over charts for the slightest hint of a reversal.

What’s Next for ICP Price?

Despite what the charts and derivatives data says, ICP remains one of the most undervalued top coins relative to its tech and potential.

This week’s MULTI/DEX launch and continued upgrades could mark the turning point. If on-chain metrics accelerate, the price will likely follow.

Current fundamentals have strengthened while price has lagged, which is a classic setup for volatility to the upside.

ICP price prediction remains fluid, but network momentum has clearly shifted higher and price could soon follow.

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