ICP Crypto Price is Trading With Flat Volume; What’s Cooking?

• The ICP crypto has dropped in value by 2.6% in the last 24 hours.
• Internet Computer crypto is trading 98% below its all-time high price.

The Internet Computer (ICP) is a decentralized network powered by the ICP token, which enables computation, governance, and digital money. The ICP token is deflationary and valuable. The DFINITY Foundation is a nonprofit organization that created and supports the Internet Computer protocol.

The derivatives trading volume of the Internet Computer Protocol crypto has declined by 45.9% and the value of the volume is $506.79 Million. The spot trading volume of the crypto has declined by 40.7%, resulting in a traded volume of $239.918 Million.

The volume/market cap ratio of the Internet Computer Protocol crypto is 3.99% and its market cap rank is #18, as per Coingecko. The market cap of ICP has declined by 3.4% and the current market cap value of the crypto is $5.679 Billion.

Internet Computer Blockchain Data Overview

The TVL of the Internet Computer crypto is $32.77 Million and the circulating supply is 455.073 Million ICP. Additionally, the total supply of the ICP crypto is 412.89 Million ICP while the max supply is infinite. 

ICP Crypto Technical Analysis

The ICP crypto price has broken above the important swing highs and is currently sustaining above the same. This behavior of the price shows sustainability in the uptrend of the price.

The price of the ICP crypto is also forming a higher high pattern on the chart.

ICP/USD Chart by TradingView

The 50-day and the 200-day EMAs are forming a golden cross and the price of the ICP crypto is consistently rising to higher levels. The ICP crypto price is above the EMAs and it is forming higher high swings on the charts. 

The MACD has formed a death cross on the daily chart while the signal line and the MACD line are situated above the zero level. Thus, the bearish cross of the MACD might indicate the possibility of retracement in the price.

Conclusion 

The ICP crypto is a promising project that aims to revolutionize the internet with its decentralized network and token. The ICP crypto price has shown strength and resilience despite market volatility and it has the potential to recover and surpass its previous highs. ICP crypto is a good buying opportunity for long-term investors.

Technical Levels

Support Levels: $2.900 and $7.700

Resistance levels: $22.600 and $36.100

Disclaimer

This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.