Internet Computer Price Analysis: ICP Broken and Now Seeking Durability

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  • The price of Internet Computers is attempting to hold above the consolidation phase on the daily price chart.
  • ICP crypto has recovered above 20 EMA and is still behind the 50-, 100- and 200-day daily moving average.
  • The ICP/BTC pair is at 0.0003271 BTC with an intraday gain of 4.94%.

Internet Computer price is trying to build uptrend momentum on the daily chart. Since the price of the coin has fallen below the falling triangle pattern, it is currently trying to attract buyers. Just after exiting the descending triangle pattern, the token entered a region bounded by a horizontal range and is currently attempting to move towards the upper range. Before the ICP can rise again, the ICP bulls must rally. ICP investors should keep an eye on the chart for any trend changes. ICP must attract a significant number of buyers in order to officially emerge from the consolidation phase. However, the token managed to break out of the consolidation phase, but ICP is now struggling to sustain itself above the consolidation phase.

The market value of Internet Computer Pricing, which is currently trading at $6.66, has risen 0.93% over the past day. Trading volume fell 19.15% during the intraday trading session. This shows that there are still buyers ready to buy ICP currency. Because it is currently low, the accumulation rate must be increased throughout the intraday trading session. The market capitalization to volume ratio is 0.0548.

The price of ICP coins is trying to amass buyers in order to break through the consolidation stage. When the trade was fully controlled by the sellers, the token initially fell from the descending triangle pattern before breaking down from the descending pattern. ICP has entered a range bounded horizontal region and as a result the token is currently unable to muster either stable momentum. ICP has been consolidating between $4.90 and $6.40 in the meantime. On the daily price chart, the downward trend of the ICP token is indicated by gradually decreasing volume.

What do the technical indicators suggest about the KPI?

On the daily price chart, ICP coin price is trying to break out of the consolidation period. To allow the ICP to hold close to the edge of the bounded horizontal zone, the accumulation must be raised. The technical indicators suggest the bullish momentum of the ICP coin. The Relative Strength Index shows the bullish momentum of the ICP coin. The RSI is at 57 and heading into overbought territory.

MACD shows the uptrend momentum of the ICP coin. The MACD line is ahead of the signal line after a positive crossover.

Conclusion

Internet Computer price is trying to build uptrend momentum on the daily chart. Since the price of the coin has fallen below the falling triangle pattern, it is currently trying to attract buyers. Just after exiting the descending triangle pattern, the token entered a region bounded by a horizontal range and is currently attempting to move towards the upper range. Before the ICP can rise again, the ICP bulls must rally. ICP investors should keep an eye on the chart for any trend changes. ICP has been consolidating between $4.90 and $6.40 in the meantime. On the daily price chart, the downward trend of the ICP token is indicated by gradually decreasing volume. The technical indicators suggest the bullish momentum of the ICP coin. The MACD line is ahead of the signal line after a positive crossover.

Technical levels

Support levels: $4.90 and $5.50

Resistance levels: $7.00 and $7.50

Disclaimer

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

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