ICP crypto price kickstarted the Monday session on a strong footing reversing from Friday’s fall. The 50-day EMA turned support and halted the continuous fall of the past four sessions.
Earlier the ICP price dropped for the four consecutive sessions retreating back from its latest peak of 16.31.
Internet Computer (ICP) intends to be a global platform for building any online services without relying on traditional IT infrastructure. It is incorporated with a radical rethink of blockchain design.
It uses a network of specialized hardware devices, known as node machines which are distributed across different data centers and run by different independent operators. The node machines communicate using a protocol called ICP.
Internet Computer Price (ICP) Technical Analysis
From a technical point of view, the ICP/USD pair ended the week with a substantial loss of nearly 20%. While the bears dominated, they lacked control after gaining in the Monday morning.
Furthermore, the bulls turned aggressive near the 50-day EMA after which the price recovered Friday’s losses and strived to gain more by the session end. The 4-H chart shows that the ICP/USD pair met fresh buyers near the 200-day EMA, which helped the price gain further.
The relative strength index has slipped lower after entering into an overbought zone. Moreover, The RSI line is currently placed at 60.85 in the bullish zone.
The buyers have shown interest in Today’s session due to which the price may recover from last week’s drawdown. The broader trend is bullish which might add more buying volume at the dips.
ICP Crypto Price Prediction January 2024
Analysts have a wide range of price predictions for January 2024. The most optimistic view of analysts is that the price could reach a high of $16.32 by the month’s end. Whereas the pessimistic price target lies near $8.54.
ICP Crypto Price Prediction 2024
According to our analysts, the most optimistic view of analysts estimates an upside potential of 87.76%. The price of the Internet Computer token could reach up to $23.83 by the end of 2024. The pessimistic view of analysts is that it could attain the $18.10 mark.
ICP Crypto Price Prediction 2025
The most optimistic note of the price prediction for the year 2025 shows that the Internet Computer crypto price could lead to a high of $30.68. However, the pessimistic view of analysts expects the price to reach $23.25.
ICP Crypto Price Prediction 2026
The ICP crypto price may reach a high of $36.71 if a positive trend prevails in the crypto market. On the flip side, the most pessimistic view of the analysts expects the price to reach $27.94 by 2026.
ICP Crypto Price Prediction 2027
As per the price prediction of our analysts for the year 2027, the ICP crypto price could reach as high as $42.13. Whereas the lowest value up to which the price could advance is $34.70.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
Source: https://www.thecoinrepublic.com/2024/01/08/icp-crypto-outlook-a-bounce-back-for-the-bulls-after-rough-week/