- The current trading price of the ICP crypto is 269% higher than its all-time low price.
- The trading volume of the Internet Computer crypto has been trading flat in the last 24 hours.
Internet Computer (ICP) is a protocol that aims to create a decentralized and trustless network for the internet. It is powered by its native token, ICP, which is used for fees, rewards, and governance. The protocol is developed and maintained by the DFINITY Foundation and its team of experts.
The current circulating supply of the Internet Computer crypto is 456.294 Million ICP and the max supply is infinite.The trading volume of the crypto has increased by 3.7% in the last 24 hours.
The volume/market cap ratio of the crypto is 2.9% against the market cap of $4.922 Billion, which makes it the 19th largest cryptocurrency in the global cryptocurrency market.
At press time, the current market cap dominance is 0.30% and the fully diluted market cap of the crypto is $5.541 Billion. This is followed by a total supply of 513.71 Million ICP and the price is 269% above its all-time low.
Internet Computer Derivatives Analysis
The long liquidation for the Internet Computer crypto is $252.93K against the short liquidation of $136.96K. Moreover, the derivatives volume of the crypto has declined by 4.7% in the last 24 hours.
The open interest of the crypto also has declined by 2.7%, resulting in a value of $49.74 Million and the long/short ratio of the crypto is 1.004.
ICP Crypto Technical Analysis
The price of the ICP crypto is forming a higher high pattern on the charts and is currently facing resistance at a crucial level. If the price of the crypto further breaks above the last swing high, the price might lead to even higher levels.
ICP/USD Chart by TradingView
The most commonly used indicators are giving a buy signal on the daily chart of the Internet Computer crypto.
The 20, 50 and 200-day EMAs are forming a golden cross while the price of the crypto is currently taking support at the 50-day EMA. If the price of the crypto further forms a bullish candlestick pattern, we might witness an increase in the price.
The MACD and the signal lines are forming a bearish cross while the lines are below the zero level, indicating bearishness in the larger timeframe.
The RSI is showcasing a bullish cycle while it has declined below the 50-level, currently trading at 45.41. If the value of the RSI rebounds above the 50 level, a good bullish momentum can be seen in the price.
Summary
The Internet Computer’s native token ICP is showing strong bullish signs on the charts, breaking resistance levels and forming higher highs. In short, the crypto is expected to continue its upward trend.
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.