2025-11-4 22:13 |
Internet Computer’s native token ICP ICP $5.67 24h volatility: 45.2% Market cap: $3.03 B Vol. 24h: $1.06 B soared 45% on Nov. 4, hitting $5.20 for the first time since August. The surge followed a pivotal ecosystem announcement from the Dfinity Foundation, a Swiss-based non-profit backing the decentralized computing protocol.
Dfinity confirmed the launch of Caffeine, a new AI product that builds applications from scratch. The team first introduced the app’s early text-based version at SFTechWeek in Zurich in October.
The Nov. 4 public release appears to have reignited market enthusiasm as the team confirmed the Caffeine app can now receive prompts in text, images and code.
Monthly Round Up:
The big news was that @caffeineai is now open to everyone.
But there was even more that happened this past month, here's a short recap:
– Caffeine was featured in @VentureBeat for turning chats into live apps, and appeared at @SFTechWeek, Zurich AI Festival… pic.twitter.com/HicWUTylrf
— DFINITY Foundation (@dfinity) November 4, 2025
According to CoinMarketCap, ICP trading volume spiked 131% in 24 hours, reinforcing the ICP rally was largely driven by intraday events. Coinglass derivatives trading data further validates this claim. ICP saw a 92% rise in open interest, now totaling $174 million, while futures volume skyrocketed 132% to $2.18 billion.
Internet Computer (ICP) Derivatives Market Analysis | Source: Coinglass
This reflects that short-term, the ICP price rally is being driven by leveraged traders chasing amplified profits on upside bets.
Historically, such leverage-driven rallies could be susceptible to early corrections if profit-taking ensues without corresponding volume of spot demand. Nonetheless, investor confidence remains strong, with Nov. 4 gains generating ICP’s highest single-day trading volume since December 2023.
ICP Price Forecast: Bulls Eye $6 if RSI Holds Above 75ICP price currently trades near $5.55, showing resilience after briefly touching the $5.79 intraday high. The upper Bollinger Band has widened toward $5.94, indicating room for continued upside momentum if buyers sustain pressure.
The Relative Strength Index (RSI) reads 79.89, showing the asset is deep in overbought territory. However, as long as RSI stays above 65, momentum may remain firmly bullish.
However, high profitability metrics and a 64.31% win rate on recent trading sessions imply ICP could experience some profit-taking before another upward leg.
Internet Computer (ICP) Technical Price Forecast | Source: TradingView
If bulls maintain control above $5.20, the next logical breakout target sits at $6.00, representing a key Fibonacci extension level from the October swing. A decisive candle close above $6.10 could then validate a short-term uptrend continuation toward $6.75.
On the downside, failure to hold $4.90 would invalidate the bullish setup and trigger a slide toward $4.50, where ICP last consolidated before this move.
nextThe post Why Is Internet Computer (ICP) Price Rallying 45% Today? appeared first on Coinspeaker.
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