Internet Computer price forecast indicated the struggle of ICP crypto at the lowest level over the daily time frame chart. ICP crypto has slipped from a horizontal range-bound area and is now struggling to bounce back. ICP crypto has been consolidating inside the horizontal price range of $3.92533019 and $4.52325356. On 15th August, Internet Computer crypto slipped from the consolidation phase to its lowest level of $3.20148852. However, now ICP crypto is preparing to bounce back from the lowest level over the daily time frame chart.
Internet Computer price was at $3.51860000 and lost 1.84% of its market capitalization during the day’s trading session. However, trading volume is slightly up by 2.10% during the intraday trading session. This demonstrates that buyers are still present in the trade to push ICP upwards. The volume-to-market cap was 0.82%.
Internet Computer Price Forecast: Technical Indications
Internet Computer price highlights the decline of ICP crypto to the lowest level after breaking down from the horizontal range-bound area. However, volume change can be seen below average and needs to grow during the intraday trading session. ICP crypto has slipped below the 20, 50, 100, and 200-day daily moving averages. ICP crypto needs to accumulate buyers in order to surge from the lowest level and be at a respectable price level.
Internet Computer price has undergone a decrease of approximately 12.71% over the course of a week and a more significant decline of 13.54% within a month. The performance of ICP crypto has been challenging, resulting in a drop of about 30.56% over the past three months and a notable fall of 48.90% during the preceding six months. Additionally, the Internet Computer cryptocurrency has experienced a decline of around 10.72% year-to-date.
Technical indicators suggest the downward momentum of Internet Computer prices. Relative strength index and moving average convergence divergence both confirm the fall of ICP crypto.
RSI was at 30 and is about to enter the oversold territory. The MACD line is below the signal line after a negative crossover. Investors in Internet Computer cryptocurrency need to wait for any directional change over the daily time frame chart.
Summary
Internet Computer price forecast indicated the struggle of ICP crypto at the lowest level over the daily time frame chart. However, volume change can be seen below average and needs to grow during the intraday trading session. Technical indicators suggest the downward momentum of Internet Computer prices. Investors in Internet Computer cryptocurrency need to wait for any directional change over the daily time frame chart.
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.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
Source: https://www.thecoinrepublic.com/2023/08/21/internet-computer-price-forecast-icp-crypto-at-the-lowest/