Internet Computer Price Analysis: ICP Investors Feel Safe As Prices Surpass 20 EMA

0
  • Internet computer prices rebounded above yearly lows with a slight jump.
  • ICP Coin remains above the 20 EMA on the daily price chart, despite moving back into the intraday trading session.
  • The ICP coin with a 15.6% bitcoin pair is in the green zone at 0.0002923 satoshis.

Internet Computer Coin hit a new low in 2022 at $6.0 as ICP Crypto attempts a recovery after noticing a Morning Star candle on the daily price chart. But despite the recovery mode, the rebound looks weak until last week, but now buyers are eyeing the bullish momentum.

Last night’s bulls were so aggressive that ICP noted a dramatic uptrend with gains of over 23%, with a stop of the 20-day exponential moving average on the daily price chart. Therefore, seeing a short cover, the bears are showing weakness.

Now, Internet Computer Coin is aiming to reach the conceptual level of the $10 mark as the first achievement. Thus, it is trading at $8.9 at the time of writing. And the buyers are forming an important support level at the $6.0 mark.

Meanwhile, the market cap topped $2.0 billion last night, gaining 18.8% in the past 24 hours. The ICP coin with a 15.6% bitcoin pair is in the green zone at 0.0002923 satoshis.

ICP Coin remains above the 20 EMA on the daily price chart, despite moving back into the intraday trading session. The 50 EMA may soon act as a bullish barrier. However, last night’s trading volume showed a very volatile session for traders, where intraday volumes increased by 250%.

ADX started falling

In terms of the daily price chart, the RSI indicator is facing a pullback above the half line (50 mark) after dipping into the oversold zone. On the other hand, the ADX has started falling and Internet Computer is showing weak bullish momentum for the coin.

Conclusion

After yesterday’s rally, Internet PC buyers have become active and may reach the $10 conceptual level in the coming week.

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 they do not constitute financial, investment or other advice. Investing in or trading crypto assets involves the risk of financial loss.

Share.

Comments are closed.