Search Inside Bitcoins

Internet Computer Price Prediction: ICP Jumps 15% To Displace Shiba Inu (SHIB) As 16th Largest Crypto, But Experts Say Look To This Latest AI Platform For Explosive Gains

Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

Internet Computer Price
Internet Computer Price

Join Our Telegram channel to stay up to date on breaking news coverage

The Internet Computer price is up 15% in the last 24 hours to trade for $15.416 as of 3:10 a.m. EST time, with trading volume rising 105%.

Over the last month, ICP is up 204%, with the potential to extend the gains as the broader market bullishness prevails.

The surge has fired the altcoin past meme coin Shiba Inu (SHIB) to take the 16th position on the list of cryptocurrencies by market capitalization.

Strong Fundamentals Behind The ICP Protocol Drive Internet Computer Price

Besides the market buoyancy driven by expectation of imminent spot Bitcoin ETF approvals, a driver of the Internet Computer price is the strong fundamentals behind the ICP protocol. Among them, are the utilities of the ICP token, such as being able to hold money and the staking function achieved using its Network Nervous System(NNS).

The NNS is the decentralized autonomous organization (DAO) that controls the Internet Computer blockchain. It operates as an open, permissionless governance system, open for participation when ICP holders stake their utility tokens in so-called neurons.

Decision-making is achieved through the voting process after proposals are presented by anyone in the ICP community.

The voting power of a neuron depends on the amount of ICP tokens the neuron stakes. It also hinges on the neuron’s dissolve delay (duration of the staking period), and the neuron’s age (time since the tokens have been staked). The utilities make the philosophy behind ICP

This shows that the bullishness of the Internet Computer price is not entirely dependent on the volatility seen in the Bitcoin price.

Internet Computer Price Outlook As The Utilities Philosophy Drives Growing Interest For ICP

After a 15% surge, Internet Computer price broke out from above the upper band of the Bollinger indicator at $14.403. This suggests a possible pullback incoming, a position that is accentuated by the fact that ICP is already massively overbought. This is seen in the position of the Relative Strength Index (RSI) at 82.

The RSI also appears subdued, moving horizontally as the bulls show exhaustion. However, owing to the fact that the bulls still maintain a presence in the ICP market, investors with open long positions should not close them just yet. However, those looking to open new longs should probably wait.

With multiple signs pointing to an impending correction, spooked traders could start booking early profits, with the ensuing selling pressure likely to send Internet Computer price lower to test the 78.6% Fibonacci level at $13.409.

Lower, the slump could see Internet Computer price test the most critical support at 61.8% Fibonacci retracement level at $11.141. However, for the prevailing bullish outlook to be invalidated, the ICP price must descend further, retracing the 50% Fibonacci level at $9.549, and record a daily candlestick close below it.

ICP price
TradingView: ICP/USDT 1-day chart

On the flip side, while the bulls still maintain a presence in the ICP market, increased bullish momentum could see Internet Computer price increase, reclaiming the range high at $16.300. In a highly bullish case, the price could shatter this barrier to record a new local top above the current market range.

Meanwhile, while the ICP market works out the next directional moves, investors are looking to Launchpad XYZ for the next 10X trade. Its native token, LPX, features among analysts’ top picks for the best AI crypto projects.

https://www.youtube.com/watch?v=3qvSMVDi4Yc&pp=ygUMbGF1bmNocGFkeHl6

Promising Alternative To Internet Computer

Launchpad XYZ and its ticker, LPX, take the stage as the most promising alternative to Internet Computer’s ICP token. The project helps investors find the next 10X trade, thereby eliminating the need to wait make speculative bets.

The project is an all-new blockchain-based crypto ecosystem, revitalizing the investment sector of Web 3.0 through smart data, analytics, and insights on crypto and NFT investments. It boasts a user-friendly dashboard, which makes it easy for beginners to navigate the complexities of the Web 3.0 era.

With various features to simplify the complexities of the Web 3.0 investment space, Launchpad XYZ provides a decentralized exchange (DEX) that allows users to trade NFTs and swap tokens. You also enjoy access to high-value fractional assets like supercars and real estate, and exclusive access to private ICOs.

Investors looking to buy LPX can do so on the website, where each token is selling for $0.0445. So far, presale sales have reached $2.401 million.

Visit the official website to buy LPX in the presale here.

Also Read:

Most Searched Crypto Launch - Pepe Unchained

Rating

Pepe Unchained
  • Layer 2 Meme Coin Ecosystem
  • Featured in Cointelegraph
  • SolidProof & Coinsult Audited
  • Staking Rewards - pepeunchained.com
  • $10+ Million Raised at ICO - Ends Soon
Pepe Unchained

Join Our Telegram channel to stay up to date on breaking news coverage

Read next