Internet Computer Price Analysis: Bears are still active to clear the ICP coin near the $10 conceptual level

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  • Internet Computer Coin suggests lower rounding recovery in a shorter time frame.
  • The ICP token is training above the crucial 20, 50, and 100-day moving averages.
  • Amid an uptrend, traders have been part of the heightened volatility over the past 24 hours.

The Internet Computer Coin is in complete control of the buyers as the price action forms higher highs and higher lows on the daily price scale. After reversing from 52-week lows, buyers recovered around 68% in July, which is a clear indication of the dominance of buyers over the ICP coin.

ICP Crypto experienced a pullback in the last days of August. After the recent retracement phase last week, the buyers are making a recovery attempt and the price action is also showing a rounded recovery this week. Between pump and dump, the $7.8 level has acted as support so far and it remains valid.

At the time of writing, ICP Coin is trading higher in the intraday trading session at $8.5. Although buyers have seen a retracement phase this week, the coin is down 6.3% this week. The market cap is over $2.1 billion according to CMC, where the BTC pair with the ICP coin is up 3% at 0.0003634 Satoshis.

On the daily price chart, the ICP token is training above the crucial 20-, 50-, and 100-day moving averages. Amid an uptrend, traders participated in rising volatility over the past 24 hours.

Will the buyers break the $10 level next week?

The Stoch RSI indicator is causing confusion among traders as indicator points at the 50 level. Also, the MACD indicator continues to move into positive territory in terms of the daily price scale.

conclusion

The Internet Computer (ICP) coin looks negative based on the weekly time window. Despite this fact, the buyers are barely trying to reverse the coin near the $7.8 resistance zone. The conceptual level is the biggest challenge for buyers in the coming days.

Technical levels

Support level – $6.0 and $5.0

Resistance level – $10 and $20

Disclaimer

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

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