ICP registered a 30% jump in a context where the rest of the market showed weakness, and the advance coincided with a breakout above a descending trendline and a notable increase in volume. These factors confirm a relevant technical shift and position ICP as a focus of interest.
The cryptocurrency breached a descending trendline of several months and overcame critical resistances located in the $5.20–$5.40 range, a threshold that had contained the prior recovery. 18 November 2025 was a pivotal session: after a brief drop below $5.00 the previous day, the price rebounded 17% to recover $5.50. That day 2.98 million tokens were traded, 45% above the short-term average, and daily volume reached $858 million, which validated the breakout from a liquidity perspective.
In derivatives markets, open interest rose to $188 million, a sign of entry of leveraged positions and increased liquidation risk. As of 25 November 2025, ICP traded in the $4.08–$4.33 range and rests on an ascending trendline in place since early October; holding that support area is critical for the technical bias to remain constructive.
A sustained daily close above $5.92 is considered the trigger that would confirm a structural bullish change with a first target at $7. More ambitious indications place projections near $9.84 and up to $11.78–$14 in continuation scenarios, although those levels require additional confirmation. Weekly indicators show room to rise: the RSI is at 45.43 and the MACD records an incipient bullish cross; the Fear & Greed index sits around 33, reflecting widespread caution.
ICP: technical analysis and breakout volume
On-chain metrics accompany the technical upswing. Daily active addresses increased 35% in the last month and volumes on decentralized exchanges reached $843.5 million, consistent with greater network usage. The Total Value Locked (TVL) rose 22.5% to $1.14 billion in the third quarter of 2025; TVL (Total Value Locked) is the sum of assets locked in the network’s protocols and serves as an indicator of adoption and liquidity.
On the regulatory front, the Securities and Exchange Commission (SEC) offered clarity on DePIN projects, which, according to market participants, reduced a component of uncertainty for institutional investments in tokenized infrastructure. That framework favors capital inflows but does not eliminate risks: the increase in open interest and the presence of accumulation by large wallets (“whales”) raise potential volatility and the risk of abrupt moves due to leverage.
The convergence of a volume-validated technical breakout and on-chain metrics places ICP in a phase of momentum recognition, with the ascending trendline and the $5.92 threshold as key references to monitor. The next verified milestone to watch is a sustained daily close above $5.92.
