thecoinrepublic.com
- 1 Internet Computer price prediction showcases the consolidation phase of ICP crypto.
- 2 ICP crypto is trying to surge above 20, 50, 100 and 200-days daily moving averages.
- 3 The pair of ICP/BTC was at 0.0001373 BTC with an intraday gain of 0.20%.
Internet Computer price prediction showcases the sideways momentum of ICP crypto inside an horizontal price range. ICP cryptocurrency has been fluctuating inside the price range of $3.90 and $4.50 over the daily time frame chart. Meanwhile, ICP crypto has been trying to surge out of the consolidation phase but couldn’t sustain at the upper trendline of the horizontal range-bound area. Sellers have been hammering ICP crypto to pull it back from the upper threshold.
Internet Computer price was at $4.0976 and has gained 0.75% of its market capitalization during the day’s trading session. However, trading volume has decreased by 33.34% during the day’s trading session. This demonstrates that sellers are trying to pull ICP crypto downwards. Volume to market cap ratio was at 0.0071.
Internet Computer Price Prediction: Technical Analysis
Internet Computer price prediction suggests the upside trend of ICP crypto inside the consolidation phase over the daily time frame chart. However, trading volume is below average and needs to grow under favor of buyers. Sellers are still present in the trade to pull ICP crypto towards the lower trendline of the consolidation phase.
Meanwhile, ICP crypto is trying to surge above 20, 50, 100 and 200-days daily moving averages. ICP crypto has gained 4.12% year to date suggesting ICP crypto will recover maximum during 2023. ICP crypto must attract buyers during the day’s trading session to continue the upside trend and reach the upper threshold of the horizontal range-bound area.
Technical indicators suggest the upward velocity of ICP crypto. Relative strength index showcases the uptrend momentum of ICP price. RSI was at 46 and is heading towards neutrality toward the overbought level.
MACD exhibits the consolidation phase of Internet Computer Cryptocurrency. The MACD line is about to cross the signal line upwards. Investors in Internet Computer crypto need to wait until the ICP crypto price reaches the upper threshold.
Summary
The lateral movement of ICP cryptocurrency inside a horizontal price range is demonstrated by Internet Computer price prediction. ICP cryptocurrency has been attempting to break through the consolidation phase, but it has been unable to maintain itself at the upper trendline of the horizontal range-bound area. ICP cryptocurrency is still being pulled by sellers in the direction of the consolidation phase’s lower trendline. ICP cryptocurrency price has increased 4.12% year to date, indicating that 2023 will be the year of maximum recovery. Technical indications point to ICP crypto’s rising momentum.
Technical Levels
Support Levels: $4.00 and $3.90
Resistance Levels: $4.23 and $4.52
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.