- ICP coin price is seeing a strong bearish momentum on the daily chart. It might hit a low of $20 in the near future.
- The revival of Internet Computer seems more and more difficult in the current market. Meanwhile, ICP/BTC is also on a downtrend with a loss of more than 5% in the past 24 hours.
ICP crypto price is currently seeing a strong bearish momentum on the technical chart which can lead it to a new low. ICP/USD pair has seen a loss of 7% in the intraday session and ICP/BTC pair is also on downtrend. An ICP coin was worth $700 once and is now trading with a loss of more than 95% near the value of $28. It was once the most anticipated project of the year.One can invest in ICP as per their risk capacity and price action in the coin.
ICP coin is currently ranked 21st in the CMC with a market dominance of more than 0.34%. The volume of the Internet Computer price has seen a decrease of more than 13% . Volume to market capitalization ratio of the asset suggests a strong downtrend in price for the future.
Technical Indicators For ICP Crypto Price Suggests A Downtrend For The Upcoming Days
The weekly technical chart of the ICP coin price suggests a strong bearish momentum for the upcoming weeks. The price has observed more than 1.5% in the weekly time frame. ICP coin resistance on the upside can be seen near $60. Meanwhile, the bounceback region for the price can be observed at $25. Internet Computer price is currently trading below the 50 and 100 Daily Moving Average. The 50 MA line is at $39 making it a temporary resistance for the price. ICP/BTC pair can also see a strong bearish momentum in the future. One can invest in the coin after a strong pullback.
RSI(Bullish): RSI for the asset is near the value of 34.25 while suggesting its presence in the neutral zone. There is a small positive slope formation in the RSI while suggesting an uptrend for upcoming days.
Conclusion
ICP crypto price has observed a significant amount of value loss in the past but can also observe a strong uptrend in the future. ICP/BTC pair is also seeing a downside momentum and can soon revert back to the uptrend.
Technical Indicators
Major Resistance:$60
Major Support:$25