thecoinrepublic.com
- 1 Internet Computer price prediction (BITFINEX: ICP), shows the coin price reversed from major support levels.
- 2 The coin price increased by 0.23% over the last 24 hours and by 3.24% over last week.
- 3 At press time, Internet Computer is trading at $4.2385, and the 52-week price range is $3.34 – $8.69.
Internet Computer (BITFINEX: ICP) has a maximum M.C. of $1,987,220,486, assuming all 470 Million ICP tokens are in circulation today. This is a statistical representation of the fully diluted valuation (FDV) of Internet Computer coin, as reported by Coingecko, a crypto data and info website. The emission schedule of ICP tokens may affect how long it takes for FDV to be achieved.
Internet Computer coin plummeted 4.48% in market value and 15.33% in trading volume in the last 24 hours, per Coinmarketcap. At the time of publishing, Its market value is $1,863,037,316 and its trading volume is $27,897,311. There are 438,367,093 ICP in circulation.
Internet Computer (ICP) open interest is $20.34 Million, as per Coinglass which is a crypto analyzing website, and it fell by 6.85% in the last day. The long versus short ratio for 24 hours is 0.9015. At the time of publishing, The total number of short positions added in the last 24 hours is $18,992.952 against longs of $197,995.271.
The coin did well this month as it climbed 11.72%. However, the ICP price dropped by 17.53% in the past six months, showing poor performance. Moreover, the year-to-date return of ICP price is positive with a 7.89% rise.
Internet Computer Price Technical Analysis in 1-D Timeframe
The price of ICP coin dropped a lot in four months, from $6.418 to $7.660, making lower highs and lower lows. It followed the trendlines of support and resistance very well.
Thereafter, the price bounced from a major support level at $3.3908 and started to go up, making higher highs and higher lows. At publication time, the price was $4.2385 and it found support at $3.9749. The volume graph shows that more buyers are interested in the coin.
Moreover, in the long term, the coin might be forming a bullish pattern called a falling wedge, which means it could break out soon. As per price action, to go higher, the price needs more buyers in the longer trend.
The Internet Computer coin price (ICP) is above the 20-day EMA (exponential moving averages). The 20 EMA is acting as support and is pushing the price trend up. However, the price is below 50, 100, and 200-day EMAs, which implies that the price is trading below in the longer trend. Therefore, Internet Computer price prediction highlights that the coin must accumulate more buying interest over the daily time frame chart.
As per the Internet Computer price prediction, the MACD line at 0.01579 and the signal line at 0.03852 are below the zero line, a bullish crossover is observed highlighting bullishness for the coin. The current value of RSI is 51.09 points, and the 14 SMA is at 48.59 points, the RSI line took support and is headed for the overbought zone. Hence, the Internet Computer price prediction suggests the coin price is bullish.
Conclusion
ICP coin shows bullish sentiments in the 1-D time frame. The price action shows a bullish outlook at the time of publishing. Technical parameters of the Internet Computer price also support the bullish trend. The major indicators are giving positive signals and imply that the uptrend may continue.
Technical Levels:
- The nearest support: $3.974 and $3.390.
- The closest resistance: $4.896 and $5.64.
Disclaimer
In this article, the views and opinions stated by the author or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.