- ICP coin price is currently trading near the value of $36.17 with a loss of more than 14%. In contrast, ICP/BTC pair is observing a loss of more than 11%
- Internet Computer price technical indicators suggest a downtrend in price. It is now heading towards the all-time low of $20
Why Invest In ICP Coin?
The Internet Computer runs at web speed with unbounded capacity and is one of the first blockchains in the world to do so. It came into existence in MAY 2021 and has seen an all-time high of $737. ICP scales smart contract computation and data, which runs them at web speed, processes, and stores data efficiently, and provides powerful software frameworks to developers. Internet Computer enable the complete reinterpretation of software which provides a revolutionary new way to build tokenized services on the blockchain platform. The project was a brainchild of Dominic Williams and was founded in 2016 with notable interest from the crypto community. Internet Computer was incubated and launched by the DFINITY Foundation, a Zurich-based research organization. ICP coin price is currently seeing a downtrend but can soon see a reversal in trend.
Bears Are Gaining Strength On ICP Coin Price
ICP coin price is in a downside momentum on the daily chart. It is currently trading near the value of $36 with a loss of 14%. The market capitalization of the asset is $17,241,488,298 and is seeing a decrease from the past few days. The coin has seen a decrease of more than 93% in just a few months after becoming available for public trading. Resistance of the coin on the upside can be seen near $60. Meanwhile, the support for the price can be observed at $20. Price is trading below the 50 and 100 Daily Moving Average. The 50 DMA line is at $53 making it a temporary resistance for the price. ICP/BTC pair is also observing a downtrend but can soon see a bounceback.
MACD(Bearish): MACD for the asset price is the bearish zone with a hint of negative crossover on the daily chart. It hints at a downtrend in the price for the upcoming days. The bars of the MACD also suggest a bearish momentum.
Conclusion
ICP coin price has lost more than 97% of its value in just a few months. One can expect a correction in the price in the future. ICP/BTC pair is also observing a downtrend and can see a new low in the future. Investors should do their due diligence before investing.
Technical Indicators
Major Resistance:$60
Major Support:$20