Internet Computer Price Analysis: Bears Still Active to Dump ICP Coin Near Conceptual Round Level of $10

• Internet Computer Coin suggests Rounding Bottom recovery in a shorter time frame.
• The ICP token is training above the crucial 20,50 and 100-day moving averages.
• Amid a bullish trend, traders became part of the increased volatility over the past 24 hours.

The Internet Computer Coin is completely in control of buyers as price action is forming higher highs and higher lows on the daily price scale. After reversing from 52-week lows, buyers recovered around 68% in July, a clear testament to the dominance of buyers over the ICP coin.

ICP Crypto struggled under a pullback over the past few days in August. After the recent retracement phase last week, buyers make a recovery attempt and the price action also shows a round-down recovery this week. Between pump and dump, the $7.8 level has acted as a support so far and it remains valid.

At the time of writing, ICP Coin is trading bullish in the intraday trading session at $8.5 mark. Although buyers witnessed a retracement phase this week, as a result, the coin is down 6.3% this week. The market cap is above $2.1 billion according to CMC, where the BTC pair with ICP coin is up 3% at 0.0003634 Satoshis.

On the daily price graph, the ICP token is training above the crucial 20,50 and 100-days moving averages. Amid a bullish trend, traders were part of the increase in volatility over the past 24 hours.

Will Buyers Break $10-level Next Week?

Stoch RSI Indicator creates confusion among traders as indicator spots at 50-level. Moreover, the MACD indicator continues to move in positive territory in terms of the daily price scale.

conclusion

The Internet Computer (ICP) coin is looking negative based on the weekly time frame window. Despite this fact, buyers are barely making an attempt to reverse the coin near the $7.8 resistance area. The conceptual round level is the biggest challenge for the buyers in the coming days.

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 do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

Ritika Sharma

With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.