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- 1 Internet Computer price prediction highlights the consolidation phase of ICP crypto inside an interesting pattern.
- 2 ICP crypto is trying to recover from 20-EMA to reach the 50, 100 and 200-days daily moving averages.
- 3 Internet Computer cryptocurrency declined by 24.08% year to date.
Internet Computer price prediction points to a consolidation phase within the daily chart. Internet Computer cryptocurrency is confined within a descending triangle pattern since May 2023. Despite ICP crypto’s attempts to break out from the upper trendline of this pattern, it couldn’t maintain the momentum. To successfully escape this declining pattern, more buyers are required.
If buyers initiate the necessary push, the ICP cryptocurrency price could potentially break out of its descending pattern. It’s important to note that the current volume changes are lower than average, and an increase is needed intraday. At the same time, ICP crypto is striving to rebound from the 20-day EMA to reach the 50, 100, and 200 days moving averages.
Internet Computer price stood at $3.07700000, reflecting a 2.56% gain in its market capitalization intraday. However, there was a 24.45% decline in trading volume intraday. This suggests that sellers are actively attempting to push ICP downwards. The volume-to-market-cap ratio was at 1.13%.
Analyzing Internet Computer Price Technical Indications!
Internet Computer price prediction highlights the consolidation phase of ICP crypto inside a falling pattern over the daily time frame chart. ICP crypto is at a crucial make-or-break situation and trying to sustain at the lower level. If buyers provide the required kickstart then ICP crypto price may register its breakout from the declining pattern.
However, volume change is below average and needs to grow during the day’s trading session. Meanwhile, ICP crypto is trying to recover from 20-EMA to reach the 50, 100 and 200-days daily moving averages.
ICP crypto price managed to gain around 5.00% in a week; and 1.29% in a month. However, ICP slipped by 24.41% in the last three months and 45.10% in the last six months. Internet Computer crypto slumped around 21.92% year to date.
Technical indicators suggest an upside trend in the Internet Computer crypto chart. Relative strength index (RSI) showcases the upward momentum of ICP crypto. RSI was at 50 and is trying to recover from neutrality. Investors in Internet Computer cryptocurrency need to wait until ICP sustains at the upper trendline of the descending triangle pattern.
Summary
Internet Computer price prediction points to a consolidation phase within the daily chart, characterized by an intriguing pattern. If buyers initiate the necessary push, the ICP cryptocurrency price could potentially break out of its descending pattern. However, volume change is below average and needs to grow during the day’s trading session. Internet Computer crypto slumped around 21.92% year to date. Technical indicators suggest an uptrend.
Technical Levels
Support Levels: $2.978407399 and $2.93193858
Resistance Levels: $3.09877189 and $3.208225625
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 or stock comes with a risk of financial loss.
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
