Internet Computer (ICP) has climbed 60.4% in under two months, gaining 7.1% in the latest 24 hours. Bulls are testing whether momentum can clear the key $3.23 threshold.

  • Open Interest rose 8.4% in 24 hours, pointing to more speculative positioning.
  • Funding remained negative and spot CVD had yet to recover, suggesting bearish bets persist despite price gains.
  • A daily close above $3.23 would support continuation; a pullback zone sits at $2.61–$2.75.

LaunchBar’s read: crowded bearish positioning could fuel a squeeze, but the long-term downtrend is not erased. Traders may watch for a confirmed close above resistance and manage downside risk rather than chase the pump.