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Internet Computer Price: ICP Crypto Consolidates after an Interesting Roller-Coaster Ride


  • The price of Internet Computer has consolidated since it left below the downward triangle pattern.
  • ICP crypto is trying to maintain the 20 EMA and is behind the 50, 100 and 200-day Daily Moving Average.
  • The ICP/BTC pair is at 0.0002829 BTC with an intraday gain of 2.01%.

On the daily chart, the price of Internet computers is trying to gain uptrend momentum. The coin tried to gain the support of buyers as it fell below the falling triangle pattern. The token went into a horizontal range-bound area after just falling from the descending triangle pattern and is now trying to rise towards the high range. ICP bulls must assemble on their own before ICP can reproduce again. ICP investors should look at the chart for any changes in direction. The ICP needs to attract a significant number of buyers to register its breakout from the consolidation phase. However, to implement the ICP bull recovery plan it is necessary to first track the movement of Bitcoin, the traditional cryptocurrency as it influences all other altcoins and BTC is currently shaking at the $ 19000 level to get out of at the $ 20000 level.

ICP potential: According to some sources and analysts from the Digital Currency Domain, believe that the estimated price of the ICP coin could reach $ 20.5 by the end of 2022, could rise to $ 23.2 by 2023, rise to $ 30 in 2025 and mark the bull’s eye at $ 72 in 2027.

The market capitalization of Internet Computer Protocol, which currently sells at $ 5.68 CMP, has increased 0.56% in the past 24 hours. The intraday trading session saw a 47.55% increase in trading volume. This shows that there are buyers available to save money on ICP. The accumulation rate should be fast during the intraday trading session because it is currently low. The volume to market cap ratio is 0.05389.

The ICP coin price is trying to gather buyers to escape the consolidation phase. The signal initially falls from the descending triangle pattern because it trades under the full control of the traders and then after the breakout from the falling pattern. The ICP has gone into a horizontal range-bound area and the token is now weak to gain any of the steady momentum. Meanwhile, the ICP is consolidating within the range of $ 4.90 and $ 6.40. The gradual decrease in volume means a fall in the ICP token pattern on the daily price chart.

When will the ICP rise from the Consolidation Phase?

The ICP coin price is trying to escape the consolidation phase of the daily price chart. However, the accumulation must be increased to allow the ICP to continue at the top of the horizontal distance area. Technical indications suggest an increase in ICP momentum during the consolidation period.

The Relative Strength Index shows the uptrend momentum of the ICP coin. The RSI is at 45 and heading towards neutrality. The MACD shows uptrend momentum on the ICP coin. The MACD line precedes the signal line and moves to 0 to enter the positive zone. ICP investors will have to wait until the ICP bulls continue at current levels and allow the token breakout in the consolidation phase.

Conclusion

On the daily chart, the price of Internet computers is trying to gain uptrend momentum. The coin tried to gain the support of buyers as it fell below the falling triangle pattern. The token went into a horizontal range-bound area after just falling from the descending triangle pattern and is now trying to rise towards the high range. ICP bulls must assemble on their own before ICP can reproduce again. ICP investors should look at the chart for any changes in direction. Meanwhile, the ICP is consolidating within the range of $ 4.90 and $ 6.40. The gradual decrease in volume means a fall in the ICP token pattern on the daily price chart. Technical indications suggest an increase in ICP momentum during the consolidation period. ICP investors will have to wait until the ICP bulls continue at current levels and allow the token breakout in the consolidation phase.

Technical level

Support Levels: $ 4.90 and $ 5.50

Resistance Levels: $ 6.40 and $ 6.85

Disclaimer

The views and opinions expressed by the author, or any persons named in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing or trading in crypto assets carries the risk of financial loss.

Nancy J. Allen
Latest posts by Nancy J. Allen (see all)



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