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ICP Price Jumped 21%; ICP Preparing for Fresh $16 Breakout?

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ICP Price Jumped 21%; ICP Preparing for Fresh $16 Breakout?
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ICP price prediction says bulls are back and getting ready to push the price to a new swing high. It jumped 21% in the last trading session with a massive buying volume, denoting the injection of money from lower levels. 

ICP crypto repeated the $10.00 support and buyers succeeded in giving a bounce. The recent move in this coin looks genuine and reliable. So, the price is likely to hold the gains. 

The Internet Computer price is in an uptrend and slowly rising upward by forming higher high swings. It sustains above the 50-day and 200-day EMAs. So, minor retracement toward the support will have a high probability of giving a bounce. 

The chart structure of this coin has turned bullish and buyers look more aggressive. New participants seem to be building long positions, which may fuel the rally. 

After analyzing the price behavior of the ICP coin, it can be said that investors are highly bullish. So, they will try their best to display a fresh breakout. Currently, ICP price USD is trading at $13.273 with a one-day decrease of -3.20%.

ICP Price Recovered Weekly Loss; What’s Next?

ICP Price Jumped 21%; ICP Preparing for Fresh $16 Breakout?
Source: ICP/USDT daily chart by Tradingview

ICP price is inside the buyers’ radar and the confidence of the investors is visible on the chart. The future outlook of this coin looks bright until it sustains above the $10.00 support. Therefore, new investors should accumulate more at the current levels to generate nominal returns. 

In the recent move, ICP crypto has recovered losses of last week. It triggers the positive sentiment and increases the possibility of a breakout. The analysis indicates this coin is expected to continue the uptrend and may reward the investors in coming months.

ICP Crypto Begins the Week with a Bullish Note

ICP crypto begins the week with a bullish note. It regained the positive momentum which was essential to hit new highs. In the last 24 hours, the buying volume increased by 133%, which denotes that accumulation is going on. 

If the buyers succeed in surpassing the $16.00 barrier, the next phase of the rally may trigger. However, if the coin loses momentum near $16.00, it retraces down and tests the 50-day EMA again.

Conclusion

ICP price prediction for January 2024 seems bullish after a recent surge of 21% in a single day. The chart pattern of this crypto suggests, the bulls are back on track and getting ready for the fresh breakout. Therefore, investors may look to accumulate it at a cheaper rate. 

Technical levels
  • Resistance levels: $16.345 and $23.600
  • Support levels: $9.054 and $8.007
Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

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