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- Internet computer prices are hovering just above the latest yearly low.
- The ICP price gained 5.36% in four trading sessions this week.
- Amidst the recovery, the 20-day moving average acts as an immediate support level.
Internet computer price is yet to rise above its yearly low area. Amidst the battle of the bulls and bears, ICP crypto is stuck in the sideways territory. The market volatility seems to be low in comparison to other altcoins in the crypto market.
Against USDT, the Internet Computer (ICP) price trades at the $4.13 mark at the time of writing. For the past several days, the bulls are barely managing the crypto price above the $3.5 mark, as this level remains a key demand zone. In the intraday trading sessions, ICP sees the crypto in the green. But on the other hand, ICP token belonging to the bitcoin pair is neutral at 0.000241 satoshis.
In hourly time frame, ICP token forms higher-lows formation above support level, besides the $4.6 mark stood to be selling point since price breakdown. Despite the fact, ICP price stayed higher by 5.36% in four trading sessions of this week. Therefore, buyers successfully escaped the 20 day moving average this week. Now the 50 DMA observes as a next approach.
Market capitalization rose 1.82% in the last 24 hours reported at $1.13 Billion as per CMC. trading volume also increased during price recovery, in fact, it increased 19% overnight.
In terms of the daily price scale, RSI is approaching mid-line after reversing from the oversold zone. In addition, MACD indicator is gradually increasing towards the neutral zone along with higher-highs historame.
Conclusion
The internet Computer (ICP) price is looking under bulls’ control for a short-term outlook. Thus higher sustainability above the 20 Day moving average is the first positive sign for traders. This recovery is likely to occur until the next resistance level of $4.6.
Support level – $3.5 and $3.0
Resistance level – $4.6 and $6.0
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 financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
