Internet Computer price rallied 70% in a week, will it extend its gains?

Internet Computer price extended its explosive rally this week, climbing nearly 70% over the past seven days as investors increasingly bet on the project’s push into decentralized cloud infrastructure and AI-focused blockchain services.

According to data from crypto.news, Internet Computer ($ICP) price surged from around $2.10 earlier this week to highs near $3.75 on May 11 before stabilizing around the $3.55 level at press time. The rally made $ICP one of the top-performing large-cap cryptocurrencies over the past week.

The biggest catalyst behind the move came after the DFINITY Foundation revealed that WordPress can now run entirely on the Internet Computer blockchain. The demonstration showed the frontend, backend database, and admin functions operating fully on-chain, strengthening the narrative that $ICP could become a viable decentralized alternative to traditional cloud infrastructure providers.

Investor sentiment improved further after DFINITY introduced “Mission 70,” a major tokenomics overhaul designed to reduce $ICP’s annual inflation rate by as much as 70% by the end of 2026. The proposal also includes a new 20% revenue-based token burn mechanism that could gradually shift $ICP toward a deflationary model over time.

At the same time, traders reacted positively to the project’s “Cloud Engines” showcase held on May 10, which demonstrated enterprise-grade AI subnets capable of hosting decentralized artificial intelligence workloads directly on-chain. The event positioned $ICP as one of the major blockchain projects attempting to capitalize on the growing demand for decentralized AI infrastructure.

The combination of improving fundamentals, reduced inflation expectations, and growing AI-related optimism triggered aggressive buying activity across spot markets, while short liquidations further accelerated the rally.

On the daily chart, $ICP price confirmed a strong breakout above the key $2.60 resistance zone after spending several weeks consolidating between roughly $2.20 and $2.50.

The rally also pushed $ICP sharply above the Supertrend indicator, which has now flipped green for the first time since January, signaling that bullish momentum may be regaining long-term control.

Momentum indicators continue to support the bullish structure despite signs of short-term overheating. The MACD recently completed a strong bullish crossover while the histogram continues printing expanding green bars, suggesting upward momentum remains intact.

$ICP is now attempting to stabilize above the psychological $3.50 region after briefly touching highs near $3.75. If bulls maintain control above the breakout zone near $3.00, the next major resistance could emerge around the $4.00 to $4.10 region, which previously acted as a strong rejection zone earlier this year.

On the downside, failure to hold above the $3.00 support region could trigger profit-taking and pull Internet Computer price back toward the previous consolidation range near $2.60 before another potential upward move.

Internet Computer surged nearly 70% in a week after DFINITY unveiled fully on-chain WordPress hosting and a plan to cut $ICP inflation by 70%.