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- 1 The Internet Computer crypto price marks losses on the 2nd consecutive day as traders adopt cautious stance.
- 2 The technical indicators imply a slightly bearish outlook below the 20-Day EMA.
The Internet Computer crypto declined for the 2nd consecutive day resuming bearishness that began last week. The crypto started the week on a positive development on Monday and managed to gain nearly 2%.
However, on Tuesday, the Crypto shed gains from last week and closed below the 20-Day EMA indicating some sort of correction in the short term. On Wednesday, the crypto resumed yesterday’s fall and dug a little lower.
At the time of writing, the Internet Computer price was at $11.48 after erasing 2.05% in intraday. As per data obtained from CoinMarketCap, it has a total market capitalization of $5.24 Billion and ranks 18th among all the cryptocurrencies. It had a 24-hour trading volume of 118.62 Million with an intraday rise of 0.06%.
As observed on a 4 hour chart, the ICP crypto price has broken below the 200-Day EMA and has more room to drop till the previous week’s low and round level of $10. The short term outlook is bearish until the price receives any major support from the lower levels.
Moreover, the long term outlook is positive which may invite more buying volumes if the price discounts. The ICP crypto price witnessed a strong bullish rally in the past two months.
The Internet Computer crypto price gained momentum in December 2023 after the breakout of a round level and psychologically important level of $5. From December 2023 to mid January 2024, the ICP crypto jumped three fold and attained a high of $16.31 rising from a low of $5.
Currently, the crypto seems to have undergone a short term correction after a bull run. The price may turn volatile and show indecisive moves in the upcoming sessions. The ICP crypto may regain bullish momentum if it conquers 20-Day EMA again.
Whereas, the crypto may reverse its course if it breaks below the 200-Day EMA which seems to be a very difficult task for the sellers at the moment. Also, the price may remain volatile and maintain a correction phase until it is stuck between the 20-Day and 200-Day EMA.
Internet Computer Price Prediction February 2024
The positive view of analysts is an upside potential of nearly 25%, which could take the Internet Computer crypto price above the $14.5 mark. While the bearish view of analysts hopes the price drops to the nearest support level and a round level of $10.
Internet Computer Price Prediction 2024
The most positive price prediction for 2024 shows that Internet Computer crypto may advance to a high of $20.54 by the end of the year 2024. Whereas, the less optimistic analysts estimate a price target of $16.47 by the end of year 2024.
Internet Computer Price Prediction 2025
As per the most positive view of our analysts, the price may attain $26.57 suggesting an upside potential of 134.77%. The most pessimistic view assumes the price to reach $19.22 by the end of the financial year 2025.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock 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.
