Internet Computer Price Analysis: ICP collects 5G speed to download high value as fast as possible

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  • The internet computer coin favors bulls by gradually increasing its price above an uptrend line on the hourly price chart.
  • The ICP coin is moving towards major moving averages (such as 20, 50, 100, and 200 EMA).
  • Along with the price increase, the trading volume has also increased by 36% in the last 24 hours.

Internet Computer Coin forecast points to an upward move towards the most recent resistance level of $18. However, after recovering the 100-day moving average (yellow), ICP Coin began to fall, forming a double top on the hourly price chart. Moreover, on April 8, ICP broke through the short-term support level of $18.50, and the currency was on its way to $14.6, the lowest level on record.

The weekly Internet Computer Coin price chart is going to see a Dragonfly candle with a gain of 1% so far. Along with the upside, the ICP price action indicates a bullish trend in the lower time frame.

At the time of writing, the ICP token is trading at $17.49, up 2% in the last 24 hours according to CMC. Additionally, the internet computing coin belonging to the bitcoin pair is up 2.04% to 0.00433.

In terms of the daily price chart, ICP Coin’s most recent moving average is trending toward 20, which appears to be a recovery zone for bulls in March 2022. However, the 100 EMA plays an important role during a bullish rally. Meanwhile, traders saw a 30% increase in its trading volume compared to the previous night.

Is it better to buy or refuse?

Against the backdrop of the daily price chart, the daily RSI is about to reach its middle line. When the RSI is at the 45 mark, there are only 5 points left to cross the halfway point. Additionally, the ADX indicator is looking in a horizontal range, indicating sideways movement for the ICP coin.

Conclusion

In the current market climate, the bulls are doing their best to keep the price of ICP Coin above the 2022 lows. Above the $15 mark, the bulls have one last chance to survive the bloodbath.

Support level – $15 and $10

Resistance level – $24 and $35

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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