ICP Bulls Emerge as Altcoin Breaks Trendline Resistance

Bitcoin's recent price increase has brought some altcoins into focus, including Internet Computer (ICP), which rose 2.5% in the past 24 hours.

The rally was likely due to Federal Reserve Governor Christopher Waller's comments suggesting that interest rates may remain steady at the central bank's September meeting.

Internet Computer has been in a long-term downtrend since April, with its price down 99.6% from its all-time high of $700 in May 2021.

A Taurex report labeled ICP as the weakest among 60 cryptos in terms of price performance.

Despite this, some analysts are bullish on ICP's potential for a comeback, citing its recent break above a descending trendline resistance and potential to reach $7.20.