Surhat

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Internet Computer Price Analysis: ICP Broken and Is Now

3 min read
  • Internet Computer price is trying to sustain above the consolidation phase over the daily price chart.
  • ICP crypto has recovered above 20 EMA and is still behind 50, 100 and 200-days Daily Moving Average.
  • The pair of ICP/BTC is at 0.0003271 BTC with an intraday gain of 4.94%.

The price of Internet computers is attempting to build uptrend momentum on the daily chart. Since the price of the coin has fallen below the falling triangle pattern, it is presently trying to attract buyers. Just after leaving the descending triangle pattern, the token entered a horizontal range-bound region and is currently attempting to surge towards the upper range. Before ICP can increase once more, ICP bulls must gather. ICP investors need to keep an eye on the chart for any changes in trend. ICP needs to draw a sizable number of buyers in order to officially exit the consolidation phase. However, the token managed to breakout from the consolidation phase but ICP now struggles to sustain above the consolidation phase.

Internet Computer Pricing’s market value, which is currently trading at $6.66, has grown by 0.93 percent over the last day. The trading volume fell by 19.15% during the intraday trading session. This shows that there are still buyers willing to purchase ICP currency. Because it is currently low, the rate of accumulation must be increased throughout the intraday trading session. The market capitalization to volume ratio is 0.0548.

ICP coin price is attempting to amass buyers in order to get past the consolidation stage. When trading was completely controlled by sellers, the token initially fell from the descending triangle pattern before breaking down from the falling pattern. ICP entered a horizontal range-bound region, and as a result, the token is currently unable to gather either of the stable momentums. ICP has been consolidated between $4.90 and $6.40 in the interim. On the daily price chart, the ICP token’s falling pattern is indicated by a gradually declining volume.

What do Technical Indicators Suggest about ICP?

Over the daily price chart, the ICP coin price is attempting to break out of the consolidation period. To allow ICP to maintain near the edge of the horizontal range-bound area, the accumulation must be raised. Technical Indicators suggest the uptrend momentum of ICP coin. Relative Strength Index showcases the uptrend momentum of ICP coin. RSI is at 57 and is heading towards the overbought territory. 

MACD exhibits the uptrend momentum of ICP coin. The MACD line is ahead of the signal line after a positive crossover.

Conclusion  

The price of Internet computers is attempting to build uptrend momentum on the daily chart. Since the price of the coin has fallen below the falling triangle pattern, it is presently trying to attract buyers. Just after leaving the descending triangle pattern, the token entered a horizontal range-bound region and is currently attempting to surge towards the upper range. Before ICP can increase once more, ICP bulls must gather. ICP investors need to keep an eye on the chart for any changes in trend. ICP has been consolidated between $4.90 and $6.40 in the interim. On the daily price chart, the ICP token’s falling pattern is indicated by a gradually declining volume. Technical Indicators suggest the uptrend momentum of ICP coin. The MACD line is ahead of the signal line after a positive crossover.

Technical Levels

Support Levels: $4.90 and $5.50

Resistance Levels: $7.00 and $7.50

Disclaimer 

The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.