- Leading metaverse project with highest market capital.
- IPC to benefit with future metaverse progress.
- Its trading volume rose by 84%.
Internet Computer (IPC) is among the leading metaverse projects with the highest market capitalization worth $1.08 billion. Its use cases and distinctive traits have always fascinated users and will continue to intrigue people as it may help define a metaverse future. Amid the rise of the metaverse and big players entering the Web3 game, IPC may be the inspiration and target, for they are to compete in the coming term. According to one latest examination, the Internet Computer is currently the metaverse project with the highest market cap, which means IPC has outdone other popular metaverse projects.
The pictorial
IPC price has been in the falling parallel channel for a long and is currently at the deep end of the bear market; hence it’s heavily discounted. The current price action takes place above the half line in the channel, showing the approaching chances of a breakout. If the breakout is established successfully, IPC prices may reach near $7 or beyond. The volume and OBV also support the notion of a future surge and indicate a controlled rise. All significant EMAs hold spots above the current prices and can soon be captured.
The indicators favor the notion as prices have been consolidating for a long time and can break out anytime soon. The CMF indicator subtly tries to reach the region above the zero mark, to hint at the coming rise. The MACD lines converge as selling pressure is relaxed and indicate potential positive buyer interest. The RSI reaches the 50-mark average to become neutral and buyer-favoring in the future.
The smaller window
The current movement of IPC symbolizes the end of the consolidation phase and the initiation of the climb. The CMF indicator oscillates above the baseline and may continue to remain positive. The buyers constantly express their interest following the lasting market trend as reflected by the MACD indicator, which records buyer bars and rising participation. The RSI indicator shows buyers actively participating as the indicator rises to acquire higher ranges.
Conclusion
The metaverse leader, Internet Computer, may take the first-mover advantage as it outperformed other similar projects and earned the leader position. It may paint a colorful future for itself and impress its fans with every move.
Technical levels
Support levels: $3.3 and $2.3
Resistance levels: $7.0 and $8.2
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Source: https://www.thecoinrepublic.com/2022/12/26/internet-computer-could-lead-2023-metaverse-mission/