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- Internet Computer Price has fallen below consolidation phase and is trying to gather support from the lower level.
- ICP crypto has slipped below 20, 50, 100 and 200-days Daily Moving Average.
- The pair of ICP/BTC is at 0.0002374 BTC with an intraday gain of 3.50%.
On the daily chart, the price of Internet Computer is attempting to establish an upward trend. The coin is currently attempting to draw buyers because its price has dropped below the level that the falling triangle pattern indicates. The token moved into a region that was bounded by a horizontal range shortly after exiting the ascending triangle pattern and is currently attempting to surge into the top range. ICP bulls must gather before ICP may increase once more. ICP investors should keep an eye on the chart for any changes in trend. In order for ICP to formally quit the parallel channel, it must attract enough customers. The token must maintain its upward momentum on the daily chart in order to cross the parallel.
Internet Computer Pricing is presently selling for $3.99, up 2.69% from the previous day’s market value. The volume of transactions decreased by 12.70% during intraday trading. This illustrates that on the daily chart, sellers are aiming to seize ICP cryptocurrency.
Before it can get close to the top trendline of the ascending channel, the ICP currency price must rise. The accumulation of bulls, which the volume shift suggests is below average, must increase in order for ICP to do so. A spike in the direction of the upper trendline is necessary for the ICP coin price to begin exhibiting signs of recovery on the daily price chart.
What do Technical Indicators suggest about ICP?
Technical indicators during the consolidation period emphasise the vigour of the ICP rise. The Relative Strength Index foresaw the ICP currency’s upward trend. At 37, the RSI is moving in the direction of neutrality. The ICP coin’s downward momentum is visible on the MACD. For a positive crossover, the MACD line is lower than the signal line. Investors in ICP have to wait until bulls back the token before it can exit the channel.
Conclusion
On the daily chart, the price of Internet PCs is attempting to establish an upward trend. The coin is currently attempting to draw buyers because its price has dropped below the level that the falling triangle pattern indicates. The token moved into a region that was bounded by a horizontal range shortly after exiting the ascending triangle pattern and is currently attempting to surge into the top range. A spike in the direction of the upper trendline is necessary for the ICP coin price to begin exhibiting signs of recovery on the daily price chart. Investors in ICP have to wait until bulls back the token before it can exit the channel.
Technical Levels
Support Levels: $3.50 and $3.20
Resistance Levels: $4.45 and $5.85
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.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
