Surhat

Healthy and General

Internet Computer price analysis: ICP investors feel safe as

2 min read
  • Internet computer prices bounced back above annual lows with a slight jump.
  • ICP Coin remains above the 20 EMA on the daily price chart, despite being back in the intraday trading session.
  • ICP coin with bitcoin pair 15..6% is in the green zone at 0.0002923 satoshis.

Internet Computer Coin has made a new 2022 low at the $6.0 mark, as ICP Crypto attempts a recovery after noticing a Morning Star candle on the daily price graph. But despite the recovery mode, the bounce-back looks weak till last week, but now the buyers are taking interest for the bullish momentum.

Last night’s bulls were so aggressive, as a result, ICP noted a spectacular uptrend with gains of over 23%, with a halt of the 20-day exponential moving average on the daily price chart. Therefore, seeing short covering, the bears are showing weakness.

Now Internet Computer Coin aims to reach the conceptual round level of the $10 mark as its first achievement. Thus it is trading at $8.9 mark at the time of writing. And buyers are forming an important support level at the $6.0 mark.

Meanwhile, the market cap climbed above $2.0 billion last night, gaining 18.8% over the past 24 hours. ICP coin with bitcoin pair 15..6% is in green zone at 0.0002923 satoshis.

ICP Coin remains above the 20 EMA on the daily price chart, despite being back in the intraday trading session. The 50 EMA may act as a bullish barrier soon. However, last night’s trading volume showed a highly volatile session for traders, where intraday volumes increased by 250%.

ADX started moving lower 

In terms of the daily price chart, the RSI indicator faces a pullback above the semi-line (50 mark) after diving into the oversold zone. On the other hand, ADX started to move down, and Internet Computer shows weak bullish momentum for the coin.

Conclusion

After yesterday’s rally, internet computer buyers have turned active and may reach the $10 conceptual round level in the coming week.

Technical Levels

Support level – $6.0 and $5.0

Resistance level – $10 and $20

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.