On Wednesday, Internet Computer (ICP) is one of the strongest performers in the crypto market, registering double digit daily growth even as most of the major cryptos continue to trade under pressure amid a bearish market sentiment. At the time of writing, ICP/USD is trading at around $35.74, up by over 22% in the past 24 hours.

The Internet Computer coin made a big splash last year upon its launch, catapulting into the top crypto coins’ list almost immediately and making the most of the bullish mood in the digital asset market. However, since the flash crash of May 2021, the ICP was unable to recover and found itself in more trouble upon allegations of insider trading that forced its price to crash even as early investors profited from the initial hype.

It looks like DFINITY Foundation, the nonprofit organization behind Internet Computer, is all set to shake off all that drama and negative perception, branding 2022 as “the year for ICP”. Towards the end of 2021, the DFINITY Foundation announced a $215 million grant to boost the blockchain’s ecosystem and increase the number of dApps operating on it.

Since then, the foundation has unveiled its roadmap for the coming years, putting forth 25 motion proposals for the blockchain’s community to vote on. These include several interesting possible developments we could see in the Internet Computer ecosystem going forward, including integration with Ethereum, improvement in operations and security, dApp governance, DeFi enhancements, and more.

Further bullishness in the ICP came after Internet Computer opened a new bridge, Terabethia, to allow a connection with the Ethereum network. The bridge will support cross-chain contract communication, asset mirroring and transfers across the two networks, making the blockchain even more attractive as an ecosystem for all kinds of dApps.

ICP/USD Technical Analysis

On the H4 chart of ICP/USD, moving averages as well as the MACD are exhibiting a strong bullish bias. Although, other leading technical indicators such as momentum and Stochastic RSI suggest some selling interest as well.

Internet Computer’s price has crossed the pivot point at $26.85 and shot past two resistance levels at $30.42 and $33.52. Additional bullish pressure can see buyers test and break past the third and final resistance at $40.19.