Internet Computer (ICP) Price Spikes Over 10% Showing Bullish Trend

• ICP price shows bullish trend surging over 10% in a day.
• ICP price analysis indicate, ICP is in start of bullish trend.

Internet Computer (ICP) price the shows bullish trend surging over 10% in a day. According to CoinMarketCap, the ICP price is trading at $5.99 with a 24-hour trading volume of $69,233,476 at the time of writing.

Moreover, the Internet Computer blockchain provides a radical rethinking design of blockchain, based on innovations in cryptography. More so, it enables the first “World Computer” blockchain which could be utilized to build online services. These services include demanding web social media, without traditional IT needs. However, it could provide full end-to-end decentralization.

Internet Computer (ICP) Price Analysis

The below chart shows symmetrical triangle patter of Internet Computer (ICP). On drawing the trendlines along  a converging price range, it is found the ICP chart shows symmetrical pattern.

ICP/USDT Price Chart (Source: TradingView)

As the breakout is tend to happen in the upper trendline, it indicates the start of new bullish trend. In addition, a symmetrical pattern indicats the consolidation time before a breakout or breakdown. 

Added to this, the ICP price is above the 50-MA line, this also confirms that the price of ICP is positive. Notably, the rising moving average shows that the crypto is in an uptrend, while a declining moving average indicates a downtrend.

ICP Price Chart (Source: TradingView)

Furthermore, the above chart indicates the Relative Strength Index of ICP. All-in-all, through RSI traders could predict the crypto price security; it can help traders validate trends and trend reversals; it can point to overbought and oversold states; ICP can provide short-term traders with buy and sell signals and it’s a technical indicator that can be used with others to support trading strategies.

Moreover, the RSI of ICP is at 66, this indicates ICP is in a nearly overbought state. Even more, ICP’s bullish trend may continue as the trading volume and RSI shows positive ICP sentiment.