While the broader crypto market navigates uncertainty, several altcoins are poised for significant moves driven by their own internal developments. Internet Computer (ICP) is gaining traction from a network upgrade, while Movement (MOVE) and Axie Infinity (AXS) face pivotal token unlock events that could introduce volatility.

Internet Computer (ICP)

Internet Computer has been a standout performer this week, largely due to the launch of Dfinity’s new AI tool, Caffeine. This upgrade effectively doubled the network’s subnet capacity to 2 TiB, boosting performance for decentralized applications and sparking significant investor interest in its growing AI ecosystem.

The innovation fueled a 166% price surge within a week, pushing ICP to a 10-month high of $7.80 after breaking the $7.61 resistance level. If this momentum continues, the token could target the $10.83 mark. However, a wave of profit-taking after such a rapid climb could pull the price back toward support at $6.05 or even $4.67, which would erase a large portion of its recent gains.

Movement (MOVE)

Movement is bracing for a major token unlock scheduled in the next two days, which will release 50 million MOVE tokens valued at over $2.90 million into circulation. Such a sudden increase in supply could intensify selling pressure, especially as the altcoin has been in a downtrend for the past month.

Adding to the uncertainty is its strong 0.86 correlation with Bitcoin. A bearish turn for the market leader could drag MOVE below its $0.0525 support level, with a further drop to $0.0461 possible. On the other hand, a renewal of investor confidence could reverse the trend. A successful push past resistance at $0.0669 and $0.0741 would invalidate the bearish outlook.

Axie Infinity (AXS)

Axie Infinity is also preparing for a token unlock, but its impact is expected to be far more subdued. Valued at just $854,780, the upcoming event is unlikely to trigger significant selling pressure, which may help stabilize its price in the short term.

Despite a month-long downtrend, AXS is showing signs of a potential reversal. The Moving Average Convergence Divergence (MACD) indicator is approaching a bullish crossover, suggesting a shift in momentum could be near. If the market turns favorable, AXS could break its downtrend and push past the $1.39 resistance toward $1.51. Conversely, persistent bearish sentiment could see the price fall below the $1.18 support, potentially retesting the $1.00 mark.