The classic falling wedge setup puts the Internet Computer ICP price target at nearly $30.
) reversed directions after falling to its record low near $14.50 on Feb. 24 and has rebounded by more than 30% ever since. And now, it appears the 35th-largest digital asset by market capitalization has more room to grow in the coming weeks.pattern — a setup consisting of two descending, converging trendlines connecting lower highs and lower lows. The intersecting nature of the two lines indicate a weakening bearish momentum.
For ICP/USD, the wedge hurdle was near $17.75, as shown in the chart below. It broke above it on March 22, and kept on rising in the next daily session, accompanied by an increase in trading volumes. On the whole, it shows a convincing falling wedge breakout in action.In a"perfect" scenario, breaking out of a falling wedge pattern — to the upside — can see a subseqeunt price rally by as much as the maximum distance between the wedge's upper and lower trendline.
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