Internet Computer Price (ICP) Shot Up 30%; Will ICP Reach $18?

Internet Computer price chart shows that the crypto is bullish and that there is more scope of an uptrend. ICP shot up 30% on the last trading session and formed a big bullish candle. It is an indication that buyers have been woken up and were getting ready to hit a new swing high. 

This crypto holds the $10.00 support which turned out as a demand zone. Buyers absorbed majority of the selling pressure near the $10.00 mark.

Moreover, Internet Computer price broke out of the $12.00 barrier which triggered the positive sentiment. Buyers are aggressive and trying their best to sustain the higher level and show follow up momentum.

The recent wild move in ICP looks powerful and reliable, so the possibility of sustaining the gains is easy for the bulls. However, the price is marching toward the next supply zone of $14 so it will be interesting to see who will win the battle. 

Currently, ICP coin price is trading at $12.680 with a one day uptick of 3.54%. 

How Much Internet Computer Price Can Fly in Jan 2024?

Internet Computer price gained the bullish momentum which is still intact. The chart pattern also tells us that bulls are back on track and may push the price to further high. 

The sudden spike in trading volume as well as on price denotes the participation of big players. They seem to have turned bullish on ICP and expect that this crypto might perform well in coming months. 

ICP is marching towards the $14.049 hurdle, if bulls succeed to take over the control then another sharp rise may be visible. The analysis suggests if sellers lose the control at $14.049 level, then ICP may rally 20% to 25% in January 2024. 

What Does ICP Price Behavior Convey?

The ICP price analysis confirms that the bulls are aggressive. So, the possibility of a $14.049 breakout is substantially high. However, for any reason bulls lost the momentum near resistance and faced rejection. Then, on the lower side $10.00 and the 50 day EMA will act as an immediate support for bulls. 

Till ICP price sustains above the $8.00 mark, the investors can consider this for their portfolio as a long term investment. 

Conclusion 

Internet Computer price prediction suggests the bull run in ICP has begun and more upside is pending. Presently, ICP is marching toward the $14.049 hurdle, if buyers succeed to take over this hurdle. Then the probability of hitting $18 in coming months will substantially increase. 

Technical levels

• Resistance levels: $14.049 and $18.016
• Support levels: $9.355 and $8.016

Disclaimer

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

With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.