Internet Computer Price Prediction suggests a rise and is likely to generate a decent return in the long run. ICP price recovered upto 30% after testing the yearly lows which indicates that buyers are active.
ICP crypto price facing resistance at the 50-day EMA showcase short term trend as well as positional trend is down. However, if buyers manage to climb above the 50 day EMA then the next hurdle will be the 200 day EMA.
In the beginning of June, Internet Computer price dropped below the crucial support of $4.50 which triggered the negative sentiment.
However, the prices did not collapse much and took support near $3.362. Slow and steady the prices recovered but it lacked momentum near to the 50 day EMA.
ICP crypto price is stuck into the narrow range consolidation and buyers are trying their best to defend the demand zone. The prices have corrected a lot so downside looks limited.
Internet computer price is trading at $4.312 with an intraday rise of 4.28%. The 24-hour volume to market cap is 4.28%. The ICP/BTC pair is trading at 0.0001432 with an intraday rise of 3.47%.
Will Internet Computer Prices Get Double?
Internet Computer Price Prediction is bullish but prices will pick up the momentum only after breakout of $5.500 hurdle. ICP crypto price is in recovery mode and formed a short-term base near $4.00.
Till the time ICP Price is sustaining above $4.00 the probability of continuing the recovery remains high. However, if the prices drop below $4.00 more downside will open.
The crypto leader BTC price is recovering, which might positively impact the prices of other Altcoins. The technical analysis suggests that ICP Price is near the demand zone and downside risk looks limited.
ICP Crypto Price on weekly timeframe
ICP crypto price is forming a bullish candle on the weekly timeframe. The buyers look reluctant to build fresh long positions. The buyers will gain confidence when it succeeds to break the $5.500 hurdle.
The MACD curve is near to zero line but sloping sideways denotes that prices might consolidate for some more time. The RSI at 54 denotes neutral territory and balance between bullish and bearish positions.
Conclusion
Internet Computer Price Prediction suggests a rise in the long run. ICP crypto price is near to the demand zone and probability of recovery remains high.
The technical analysis suggests that If ICP crypto prices break the $5.500 hurdle then it will begin the journey to reach $10.00.
Technical levels
- Resistance levels: $5.500 and $7.000
- Support levels: $4.000 and $3.362
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.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing
Source: https://www.thecoinrepublic.com/2023/07/23/internet-computer-price-prediction-2024-will-icp-reach-10-00/