Internet Computer Price Analysis: ICP Crushes Bearish Dominance

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  • Internet Computer breaks the downward curve and moves towards the upward trend
  • The current price of an Internet computer is $8.02 with a decline of around 0.59% during the intraday trading session
  • The ICP/BTC pair sits at approximately 0.0003483 BTC with a decline of around 0.95% in the last 24 hours.

The internet computer makes the bears cringe. The rise in the ICP price is a great achievement for the bulls. The Bulls managed to beat the bears, the bears have taken over the price of the coin now, it looks like the coin is regaining its potential, which could be a good call for investors. As investors waited for the uptrend to end, the coin was following. Now we have to wait and watch the next move of the bears. Will the bears take the ICP price to its desired targets or will the uptrend continue?

The current Internet Computer price is $8.02 with a decline of around 0.59% during the intraday trading session. The ICP/BTC pair is currently at 0.0003483 BTC with a decline of around 0.95% in the last 24 hours. ICP price is heading towards resistance and buying is getting stronger. The price of the coin may reach the primary resistance of $9.53 if the uptrend continues, the price may reach the secondary resistance which is around a price of $8.68. And if the bears push each other hard and push the price lower, it may fall to the main support around $7.47 and if the downtrend continues, it may contribute to the price reversal and the price may reach the secondary support which is around $6.17.

The volume of the coin has increased by around 7.76% in the last 24 hours. The volume to market capitalization ratio is around 0.1256. The drop in volume clearly shows that the selling pressure has subsided and is getting back on track. Now that the coin is following the uptrend, it will be so difficult for the bears to manipulate the ICP market. The bulls will suffer a serious loss if the price breaks through the secondary support. Currently, if we look at the daily price chart, the coin has started following the uptrend.

The technical indicator shows the following: the relative strength index is in the overbought zone and the RSI is still heading towards the overbought zone. The buyers worked hard to drag the RSI into the overbought zone. The current RSI is 58.67, which is above the average RSI. the average RSI is 58.29. The price exceeds the estimated moving average of 20.50 and is still behind the daily moving average of 100,200.

Technical levels

Support levels: $7.47 and $6.17

Resistance levels: $8.68 and $9.53

Disclaimer

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

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