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- 1 The Internet Computer crypto’s price faces resistance from the trendline, which decreased by 18.75% over the last month and 8.17% over the last week.
- 2 The price of the ICP crypto is trading at $3.3391 and the 52-week range is $3.1989 – $7.1974.
Internet Computer’s (ICP) open interest is $16.91 Million. As per Coinglass, another crypto analysis website, it rose by 8.25% in the previous session. The long versus short ratio for 24 hours is 0.9952. The short liquidation is $5.64 K versus $4.46K for the long liquidation.
According to recent update from a ICP itself on coinmarketcap the founder of OpenChat, Dominic Williams, who is also the chief scientist of DFINITY Foundation, is the main contributor to the Internet Computer project.
However, OpenChat is a decentralized social media platform that runs on the Internet Computer blockchain. It lets users create and join chat rooms, send messages, and vote on code updates.
Moreover, It uses the Internet Computer’s features, such as canister smart contracts, chain key cryptography, and governance system, to offer a secure, scalable, and democratic social network. It also faces some benefits and challenges of building on the Internet Computer, such as low costs, high performance, and regulatory compliance.
Internet Computer crypto surged by 1.91% in market value and fell by 4.81% in trading volume in the last 24 hours, as per CoinMarketCap, a crypto data analysis website. ICP market value is $1,475,862,995 and its trading volume is $14,516,334. There are currently 443,316,629 ICP in circulation.
Technical Analysis Of ICP Crypto in the 1-Day Timeframe
The ICP crypto price has been falling for the last six months, dropping 29.72% of its value and making lower highs and lows.
The ICP crypto price is under a lot of selling pressure and declining every day. It is following a downward trendline that is resisting the ICP crypto price and indicating bearishness. The price went below the 50.00% fibo level on May 21st, 2023 and continued to fall. The bears are in control and the price is not able to bounce back.
The ICP crypto price might keep falling and reach the support levels of $3.282 and $3.184 and beyond as it is close to ATL, if it does not maintain the current level and drops more.
On the other hand, if the price holds at the CMP level and breaks above the trendline, then it might reach the nearest target resistance levels of $3.390 and $3.650.
The ICP crypto price is under the 20 and 50-day exponential moving averages, which are resisting the ICP crypto price.
The MACD line, at 0.15458825, and the signal line, at 0.15626174, are both below the zero line. They have crossed and are close to each other, which indicates the price is not changing much as shown in the MACD oscillator. The current value of the relative strength index (RSI) is 38.94 points, and the 14-day simple moving average (SMA) is below the middle line at 36.52 points. These indicators together suggest that the market has neutral to bearish sentiments.
Conclusion
ICP crypto price prediction indiactes the neutral to bearish sentiments and perspectives of investors and traders regarding the crypto in the daily time frame. Internet Computer price action highlights a consolidation to negative outlook at the time of publishing. Moreover, the most sought and reliable technical oscillators like RSI, EMA, and MACD suggest the continuation of the neutrality over the daily time frame chart regarding the price.
Technical Levels:
- Support levels: The nearest support levels are $3.282 and $3.184.
- Resistance levels: The nearest resistance levels are $3.390 and $3.650.
Disclaimer
In this article, the views and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
