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- Internet Computer was currently at $5.54 with an increase of 5.69% during the intraday trading session.
- The 24-hour low of ICP was $5.23 and the 24-hour high of ICP was $5.69.
- The current Internet computer price is above 20, 50, and 100-Days EMA.
The current price of an Internet Computer was around $5.54 with an increase of 5.69% during the intraday trading session. The pair of ICP/BTC was currently trading at 0.0002527 BTC with a rise of 5.29% over the intraday trading session.
Internet Computer price prediction tells us that it is currently in a bullish trend. Since the start of 2023, ICP was increasing constantly but since the start of Feb 2023, it was in a bearish phase which suggests that ICP is consolidating between its primary resistance of $6.359 and its primary support of $4.628 which also shows that its consolidation phase is between its supply and demand zone. If sellers take over the market then push ICP back to its demand zone and if buyers take over the market then buyers can push ICP to its supply zone which can be a good thing for long traders.
The volume of the coin has increased by 229.10% in the last 24 hours. The increase in volume indicates that the number of buyers has increased. That means there is a relationship between the trading volume and the price of ICP, this signals strength in the current bullish trend. The coin’s price is heading above the 20, 50, and 100-days daily moving averages.
The technical analysis of Internet Computer
RSI is shown a negative crossover at the start of Feb 2023, and after then RSI has been declining but currently, it is rising in the oversold zone. This suggests that buyers are coming in the majority and trying to take over the market. The current value of RSI is 51.40 which is below the average RSI value of 54.60. There is a high possibility of a positive crossover.
The MACD and MACD signals are nearing an intersection and the possibility of a positive crossover is high. This can make investors anxious.
Conclusion
Internet Computer is currently in a bullish trend. ICP previously was in a bearish trend since the start of Feb 2023 and this also confirms by the fact that we can see the negative crossover of RSI and MACD over the daily chart. The increase in trading volume suggests the confidence of traders in ICP. There is also a high probability of a positive crossover of RSI and MACD over the daily trading chart. This can give a good opportunity for long traders.
Technical Levels-
Resistance level- $6.359 and $7.429
Support level- $4.628 and $3.495
Disclaimer-
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish 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.
