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- ICP crypto price is currently in a consolidated trend. The asset price dropped by 1.78% in the past 24 hours.
- Technical indicators of ICP suggest a weak upside trend. Meanwhile, ICP/BTC pair has seen a loss of 3% in the intraday session.
Internet Computer blockchain is trying to bring a radical change in blockchain design powered by innovations in cryptography. ICP provides “canister” smart contract functionality. It can do many new things, including serving interactive web experiences directly to users by processing HTTP requests and creating transactions that directly run on other blockchains. The asset price has dramatically fallen 99.49% from its all-time high. Various analysts are looking for an upside trend in ICP in the future.
ICP has a market cap of $1,059,123,225, which has seen a fall of 1.25% in the intraday session. The asset price is currently ranked 39th in the crypto-verse. The volume of the Internet Computer Price has also seen a gain of 14% in the past 24 hours. The volume-to-market cap ratio of ICP suggests a consolidated momentum in price.
Technical Indicators Are Not In Favor Of Anyone
The weekly technical chart of ICP suggests a strong downside momentum in price. On coming to the daily chart, the asset price is trading near $3.861 and has drooped 1.8% in the intraday session. There is a strong consolidated trend formed in the asset price. It is currently trading below its 50 and 100 Daily Moving Averages. A strong upside momentum can be observed if a positive crossover is seen. Resistance of ICP can be seen near $5. Meanwhile, support for the coin price can be observed near $3.
RSI: The asset price RSI is near 39, suggesting its presence near the oversold zone. A small positive slope formed in the RSI, hinting towards an upside trend.
Conclusion
The cryptocurrency market is currently seeing a downward spiral, and various altcoins are seeing a downtrend. ICP is currently observing a consolidated momentum but can soon see a new high in the future.
Technical Levels
Major Resistance:$5
Major Support:$3
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.
