Internet Computer (ICP) is officially recognized in Arizona’s proposed Strategic Reserve Bill on Friday, April 3, marking a notable development for Internet Computer (ICP) alongside Bitcoin and XRP.
The legislation outlines a state-managed crypto reserve and introduces a cryptocurrency fair value score tied to a digital gold standard benchmark used to determine qualifying native on-chain assets.
Source: Internet Computer Today’s X Post
The bill’s framework suggests a shift in how governments evaluate digital currencies, emphasizing utility, decentralization, and long-term network strength.
By explicitly naming ICP among eligible assets, Arizona signals broader institutional interest beyond traditional cryptocurrencies. If enacted, the proposal could reshape how public reserves incorporate blockchain assets into diversified financial strategies.
Also Read: Internet Computer (ICP) Fee Growth to $645K Could Trigger a Move to $2.45
Despite this major achievement, ICP illustrates a prevailing bearish trend that transitioned into sideways consolidation. According to TradingView, since mid-March, price faced significant selling pressure, pushing the asset from $2.80 down toward a local bottom near $2.17.
During this descent, the price remained below key Exponential Moving Averages, which acted as dynamic resistance while Bollinger Bands expanded.
Source: TradingView
Now, there is a foundation of support being created by the price in the range of $2.21 to $2.34. The Bollinger bands have narrowed down, indicating that there will be low volatility and formation of a consolidation phase. Although the price has managed to reclaim its 20 EMA, it faces resistance in the form of 50 EMA.
The RSI is now at a level of 51.34 and is definitely in the neutral zone. This means that there is no trend strength in the market currently.
Even though the RSI has crossed over the yellow line at 48.81, the nearness to the centerline suggests that this is not an important breakout in price action.
Source: TradingVIew
In Moving Average Convergence Divergence, a slight bullish crossover occurs as the blue line is seen crossing above the orange line. The current value of the indicator stands at 0.00220 and thus demonstrates positive but little momentum.
Considering that the two lines are still relatively close to zero, this is just an indication of price consolidation following a downward trend.
This article contains market analysis and price predictions. These are not guarantees. Crypto markets are volatile. Always DYOR. Not financial advice.
Also Read: ICP Targets Massive $800 Rally After Strong Smart Contracts Growth in 2026
