Internet Computer (ICP) recorded its lowest average transaction fee of the past week on Thursday, highlighting the network’s low-cost transaction environment. According to Chainspect, the average fee reached $0.0000652 per transaction, equivalent to approximately $6.52 for 100,000 transactions. Meanwhile, crypto analyst Giannis Andreou identified a potential recovery path for the ICP price, with several technical levels converging around $16.221. The outlook depends on whether the token can reclaim key resistance levels while maintaining its broader recovery structure.
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Internet Computer Network Records Lower Transaction Costs
According to Chainspect, Internet Computer recorded an average transaction fee of $0.0000652 on Thursday, marking its lowest level over the previous week. At this rate, processing 100,000 transactions would cost approximately $6.52.
The low fee level highlights one of the network’s core features: providing infrastructure for decentralized applications and online services without relying entirely on conventional centralized cloud providers.
Source: Chainspect’s X Post
Lower transaction costs can benefit developers building applications that require frequent interactions with the blockchain. However, a weekly low in average fees does not necessarily indicate increased adoption or stronger demand. Transaction counts, active users, and application activity would provide additional context for assessing network growth.
The fee data offers a fundamental perspective on ICP, while its technical structure presents a separate factor for market participants evaluating the token’s potential direction.
Also Read: Internet Computer Network Activity Rises 58% as ICP Price Gains Momentum
ICP Price Breaks Above Downtrend Line
Crypto analyst Giannis Andreou reported that the ICP price had moved above its steeper downtrend line, identifying $2.100 as a key support retest on the weekly chart.
According to the analyst’s roadmap, reclaiming $9.818 would bring the 0.5 Fibonacci retracement level at $11.514 into focus. A further advance could direct attention toward the 0.618 retracement at $13.736.
These levels act more like resistance zones than destinations for the price action. ICP will have to successfully recover and pass each obstacle before the above levels will matter.
The analyst has also considered that a pullback is possible and there could be higher lows in between as well, which means that the entire move is not going to be up only.
ICP Price Breakout Could Push the Rally to $16
The most important point in Andreou’s analysis is at $16.221, when 0.75 Fibonacci retracement coincides with an upper resistance estimated based on a larger price channel.
This overlap creates a technical point of interest in that two different charts lead to the same price range. In a recovery, traders normally look at such confluence points when identifying possible resistance levels.
Source: Giannis Andreou’s X Post
However, the formation doesn’t ensure that ICP will make it to $16.221. Before that can happen, the coin needs to recover $9.818 and move through the middle zones at $11.514 and $13.736.
The expert also found the downside scenario in the setup. A weekly close below $2.100, together with an unsuccessful effort to recover the zone, could be considered bearish.
What Comes Next for ICP?
ICP’s future technical developments will largely hinge on whether the token’s recovery sustains itself above the downtrend line and regains the resistance level pointed out by Andreou.
Breaking out of $9.818 will open up Fibonacci targets of $11.514 and $13.736, with $16.221 acting as a larger target confluence. Failure to return back above resistance will push the recovery back, while breaking below $2.100 without a subsequent reclaim will weaken the technical picture.
However, further scrutiny of transaction fees and network activity may prove beneficial in determining whether the ecosystem development accompanies the cheap infrastructure provided by Internet Computer.
ICP’s technical rebound is dependent on the breakthrough above important resistance levels, which currently block the way to the analyst’s target.
Also Read: Internet Computer (ICP) Active Addresses Rise 35% as ICP Price Eyes $7
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
