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Internet Computer price analysis: ICP is crushing the bearish dominance


  • Internet Computer has broken the downward curve and is moving towards following an upward trend
  • The current price of an Internet Computer is $8.02 with a decrease of approximately 0.59% during the intraday trading session.
  • The ICP/BTC pair is valued at 0.0003483 BTC with a decrease of approximately 0.95% in the last 24 hours.

The Internet Computer broke the bears. The increase in ICP price is a big success for the bulls. Bulls succeeded in defeating the bears the bears took the price of the coin now it seems that the coin has regained its potential to be a good call for investors. As investors wait for the end of the bullish trend the coin follows. Now we have to wait and see the bears’ next move. Will the bears take the ICP price to their desired targets or will the bullish trend continue?

The current price of Internet Computer is $8.02 with a decline of approximately 0.59% during the intraday trading session. The ICP/BTC pair is currently at 0.0003483 BTC with a decrease of approximately 0.95% in the last 24 hours. ICP price is heading towards resistance and buying is intensifying. The price of the coin can reach up to the primary resistance at $9.53 if the bullish trend continues then the price can reach up to the secondary resistance estimated at the price of $8.68. And if the bears push themselves hard and push the price to a downward momentum it may fall to the main support around $7.47 and if the downward trend continues it will contribute to the price reversal and the price will reach the second support which is around $6.17.

The volume of the coin has increased by approximately 7.76% in the last 24 hours. The volume to market cap ratio is around 0.1256. The decrease in volume clearly shows that the selling pressure has decreased and it is back on track. Now as the coin follows the trend it is difficult for the bears to manipulate the ICP market. The bulls will suffer a heavy loss if the price falls to the second support. Currently, if we look at the daily price chart, the coin has started to follow a bullish trend.

The technical indicator shows the following: The relative strength index is in the overbought zone and the RSI is still heading towards the over brought zone. The buyers are working hard to drag the RSI into the overbought zone. The current RSI is 58.67 which is above average RSI. the average RSI is 58.29. The price is above the 20,50 moving average and still remains behind the 100,200 daily moving average.

Technical level

Support Levels: $7.47 and $6.17

Resistance Levels: $8.68 and $9.53

Disclaimer

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



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