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- The ICP price is trading below the 20,50,100,200 days of Daily Moving Average.
- The ICP is trading at $5.15 and declined by 2.55% during the last intraday trading session.
- The pair of ICP/BTC is at 0.0001819BTC with a total drop of 1.18% in the last 24 hours.
With a strong potential Internet Computer tried very hard to hit the upward momentum the bears tried to push the momentum of the coin but the bears manipulated the market of the token. Both bears and bulls are hustling for the ICP price to reach their desired goals. The fluctuating price range in the daily price chart is making it so difficult for investors to know the proper movement of the ICP.
The current price of ICP is $5.15 and it has dropped approx 2.55 % in the last 24 hours. Which has brought one more move toward its downward momentum. The bulls must try hard to give the uptrend momentum to the price of the coin and bring new hope to the investors in this bearish trend. However, the volume has decreased by approx 24.45% in the intraday trading session. The current value of the volume-to-market cap ratio of ICP is 0.0166.
The downward momentum of ICP has reached the primary support of $4.73 from the primary support it may reach the secondary support if the bulls don’t push themselves to raise the price and bring back the real potential of the coin. If the bulls fail in their strategies. The price of the coin can break up to the secondary support at a price of $3.45 which is the lowest price of the month. If the price of the coin reaches secondary support it would be difficult for the bulls to beat the bears. The coin has hit the primary resistance at the price of $5.64 and could reach the secondary resistance at the price of $7.38.
The technical indicator shows the following: the Relative Strength Index is moving toward the oversold region. The bulls exerted themselves to neutralize the RSI. But bears exploited the plans of the bulls and brought the RSI to the oversold region. The current RSI of the ICP is 48.52 and the average RSI is 44.99 The investors of ICP relied on the bulls to fulfill their expectations. But the bearish trend is ruining the expectations of the Investors. ICP investors are eagerly waiting for any directional change over the chart. The MACD and MACD signal have intersected giving a positive crossover.
Conclusion
The current market trend of the ICP is volatile the coin seems to have a roller coaster ride over the daily price chart. The ICP is trading at $5.15 and declined by 2.55% during the last intraday trading session. The volume has decreased by approx 24.45% in the intraday trading indicating the buyers. The bulls exerted themselves to neutralize the RSI.
Technical Levels
Support Levels: $4.73 and $3.45
Resistance Levels: $5.64 and $7.38
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.
