Internet Computer (ICP) shows price growth amid high network activity

Internet Computer (ICP) has shown recent price growth, rising 1.89% to $2.21 within a 24-hour period. Despite a 37.51% drop in trading volume, the asset has increased over 8% in the past week, benefiting from a mild boost in the broader cryptocurrency market.

Technical analysis indicates an accumulation signal has been active for 49 days with a score of 100. The price is currently trading within a range between $2.00 and $2.40. Analysts note that a move above the $2.40 resistance level could signal a breakout.

On a fundamental level, the Internet Computer network processed 3.16 billion transactions in July, averaging approximately 133 million transactions per day. This volume ranks the network second globally in transaction processing, trailing only Solana.