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Cryptocurrency News Articles

ICP, AVAX, and FIL Are Trending Up to Start 2025 as Fundamentals and Adoption Grow

Jan 09, 2025 at 04:30 pm

Internet Computer (ICP) is regaining momentum, with its price surging for the third consecutive day. The token reached an intraday high of $12

ICP, AVAX, and FIL Are Trending Up to Start 2025 as Fundamentals and Adoption Grow

2025 started on a cautiously optimistic note, with growing adoption and investor confidence despite the recent macro headwinds. The total crypto market cap is around $3.35 trillion, and 24-hour trading volumes are over $60 billion, so activity is strong, and interest is clearly back.

Investors opt for projects with strong fundamentals, real-world use, and exponential returns in this environment. ICP and AVAX lead the pack with robust ecosystems and innovative scaling solutions.

Internet Computer (ICP): Token Burn And Ecosystem Growth Can Push ICP Price For 30% Gains

Internet Computer (ICP) is regaining momentum, with its price surging for the third consecutive day. The token reached an intraday high of $12, up significantly from its December low of $8.83. This bullish trend is underpinned by an accelerating token burn cycle, signaling growing utility and value for developers and users. There is more to come for ICP investors in 2025, with the price set to move higher in the next months as these catalysts play out.

Total ICP tokens burned | Source: Internet Computer

The ICP burn rate has increased by over 8,800% YoY and is now at 849 billion cycles, well above the 90-day average of 512 billion cycles. This underscores strong network activity and controlled supply which reduces inflation. The burn rate is in line with ecosystem growth as the number of canisters (smart contracts) on the Internet Computer network has reached an all-time high of 879,670 vs 374,000 this time last year.

This shows the platform is getting more adoption for dApps. ICP’s price is reflected in its tech. It just broke through the $10.97 resistance, and is above the 50 and 200-day EMAs.

ICP/USD weekly price chart: TradingView

The 50% Fibonacci Retracement is the key pivot, and ICP has also broken above the $11.60 resistance, which is the neckline of the double bottom at $9.40. This is a buy signal, and bulls are looking at the next resistance at $15.58, which is 30% above the current price. ICP’s recent price action and indicators suggest more upside. Traders entering at $12 could see 30% gains to $15.58. ICP looks like an excellent trade for good gains.

Avalanche (AVAX): A Bullish Surge With Eyes On $50 And Beyond

Avalanche (AVAX) is off to a hot start in 2025, with Bitcoin hovering above $100,000 and a bunch of good news. The token is up 28% YTD and just broke above $45. Analysts are now targeting $50 and beyond with a long-term target of $126.03, 191% above the current price.

AVAX/USD price chart.Source: TradingView

One of the main drivers of the price surge is whale accumulation. Over the last 21 days, whale wallets have accumulated 14.6 million AVAX worth $600 million, according to IntoTheBlock. This buying spree coincided with Avalanche’s announcement of a $250 million raise for network updates and defied the typical end-of-year sell-off.

AVAX has reclaimed the 20-day moving average (DMA), which is now at $39.80 and that’s a good technical base for more upside. Also, AVAX has broken out of the local downtrend that was in place for most of 2024.

AVAX/USD technical chart.Source: TradingView

The Relative Strength Index (RSI) has a minor bearish divergence at 58, which means the token is overbought but still below key levels, so there’s room for more upside in the short term. A break above $45 could see a retest of $50 this week.

Similarly, the resistance level stands at $47 (Keltner Channel upper band) and support is solid at $35 and $40, signaling investors are safe. Avalanche’s fundamentals and market sentiment suggest the price could go to $126.03 in the mid term which is 191% above the current price. Analysts say if it breaks above $126, it could go another 90% to $243, which is 468% above the current price. That would be an incredible result for AVAX investors, so if you’re looking for positive AVAX news for 2025, take note.

News source:bravenewcoin.com

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Other articles published on Jan 10, 2025