Internet Computer price analysis: ICP is crushing the bearish dominance

  • Internet Computer is breaking the downward curve and is moving towards following the upward trend 
  • The current price of an Internet Computer is  $8.02 with a decrease of approx 0.59% during the intraday trading session
  • The pair of ICP/BTC is approximately at 0.0003483 BTC with a decrease approx 0.95% in the last 24 hours.

The Internet Computer is breaking the bears back. The rise in ICP price is a great achievement for the bulls. The Bulls got succeeded in beating the bears the bears have taken over the price of the coin now it seems that the coin is regaining its potential which could be a good call for the investors. As the investors are waiting for the end of the bullish trend the coin was following. Now we have to wait and watch the next move of the bears. Will the bears take the price of ICP to their desired targets or will the bullish trend continue?

The current price of the Internet Computer is $8.02 with a decrease of approx 0.59% during the intraday trading session. The pair of ICP/BTC is currently at  0.0003483 BTC with a decrease approx 0.95% in the last 24 hours. The price of the ICP is heading towards resistance and the buying is getting stronger. The price of the coin may reach up to the primary resistance of $9.53 if the bullish trend continues then the price can reach up to the secondary resistance which is approximately a price of $8.68. And if bears push themselves hard and push the price to downward momentum it may drop to the primary support of approx $7.47 and if the downward trend continues it can contribute to the reversal of price and the price can reach the secondary support which is around $6.17.

 The volume of the coin is increased by approx 7.76% in the last 24 hours. The volume to market cap ratio is around 0.1256. The decrease in volume clearly shows that the selling pressure has decreased and it’s getting back on track. Now as the coin is following the bullish trend it will be so difficult for the bears to manipulate the market of ICP. Bulls will suffer a serious loss if the price falls to the secondary support. Currently, if we look at the daily price chart, the coin has started following the bullish trend.

The technical indicator shows the following: The relative strength index is in the overbought zone and RSI is still heading towards the over brought zone. The buyers have worked hard to drag the RSI in the overbought zone. The current RSI is 58.67 which is above the average RSI. the average RSI is 58.29. The price is moving ahead of the 20,50 estimated moving average and is still lagging behind the 100,200 daily moving average.

Technical Levels

Support Levels:  $7.47 and $6.17

Resistance Levels: $8.68 and $9.53

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational ideas only. They do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.