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- ICP price shows bullish trend surging over 10% in a day.
- ICP price analysis indicate, ICP is in start of bullish trend.
Internet Computer (ICP) price the shows bullish trend surging over 10% in a day. According to CoinMarketCap, the ICP price is trading at $5.99 with a 24-hour trading volume of $69,233,476 at the time of writing.
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Internet Computer (ICP) Price Analysis
The below chart shows symmetrical triangle patter of Internet Computer (ICP). On drawing the trendlines along a converging price range, it is found the ICP chart shows symmetrical pattern.
ICP/USDT Price Chart (Source: TradingView)
As the breakout is tend to happen in the upper trendline, it indicates the start of new bullish trend. In addition, a symmetrical pattern indicats the consolidation time before a breakout or breakdown.
Added to this, the ICP price is above the 50-MA line, this also confirms that the price of ICP is positive. Notably, the rising moving average shows that the crypto is in an uptrend, while a declining moving average indicates a downtrend.
ICP Price Chart (Source: TradingView)
Furthermore, the above chart indicates the Relative Strength Index of ICP. All-in-all, through RSI traders could predict the crypto price security; it can help traders validate trends and trend reversals; it can point to overbought and oversold states; ICP can provide short-term traders with buy and sell signals and it’s a technical indicator that can be used with others to support trading strategies.
Moreover, the RSI of ICP is at 66, this indicates ICP is in a nearly overbought state. Even more, ICP’s bullish trend may continue as the trading volume and RSI shows positive ICP sentiment.