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The Internet Computer price soared 17% to trade for $19.087 as of 04.47 a.m. EST time, with a 30% surge in trading volume.
Rising alongside the broader cryptocurrency market, inspired by Bitcoin (BTC) price strength, ICP’s AI smart contract is propelling its rise. With this, traders liken the surge in the Internet Computer price to that of Bitcoin in 2022.
🚀🐂 THIS IS SO BULLISH 🐂🚀
The chart of $ICP looks like the chart of $BTC back in May 2020 when the Bullrun started! 🔥🔥🔥#BTC went from $9K to $64K 👀
Will this be the #ICP Bullcycle ?
BTC left, ICP right! pic.twitter.com/JLibKwfbwx— hankolious ∞ (@hankolious) March 26, 2024
The surge in the Internet Computer price, up almost 90% in the last week, follows an announcement by the ICP network CEO and chief scientist, Dominic Williams, on X. In the post, Williams demonstrated “the world’s first artificial intelligence running on blockchain as a smart contract.”
It also follows revelations that the network recently passed 3 billion blocks as part of a bigger push to improve Internet Computer communications.
Internet Computer Price Outlook
The Internet Computer price is consolidating within an ascending parallel channel, confronting immediate resistance to its upper boundary. There are prospects for more gains, with technical indicators supporting the bullish outlook.
For starters, the Relative Strength Index (RSI) is northbound, a sign of rising momentum. The consistent histogram bars of the Awesome Oscillator (AO) and those of the Moving Average Convergence Divergence (MACD) reinforce this, suggesting a growing bullish sentiment.
Increased buying pressure above current levels could see the Internet Computer price shatter past the governing chart pattern, clearing the $19.780 range high to tag the $20.00 psychological level. Such a move would constitute a climb of nearly 5% above current levels.
In a highly bullish case, the Internet Computer price could extend the climb to the formidable resistance, highlighted as the equal highs at $23,607. This would denote a 23% climb above current levels.
TradingView: ICP/USDT 3-day chart
On the other hand, if traders begin to cash in on the gains made over the last week, the Internet Computer price could start dropping. For the bullish thesis to be negated, however, the ICP price must break and close below the $15.331 support level in the three-day timeframe.
In a dire case, the Internet Computer price could extend a leg down to test or slip below the $10.928 support.
Meanwhile, Solana meme coin Smog has soared over 247% in a month and is now unleashing what it calls ”the greatest airdrop ever.”
Promising Alternative To Internet Computer
Smog made its way into the cryptocurrency market through the Jupiter decentralized exchange (DEX) and builds atop the success of recent breakout launches on Solana from titans including Myro (MYRO), Bonk (BONK), and Dogwifhat (WIF).
Season 1 of the airdrop will finish on April 3 with about $1 million being given away.
As part of the airdrop commitment, Smog recently distributed $1500 worth of Smog tokens to coins including Dogwifhat (WIF) and Samoyedcoin (SAMO) holders on a daily basis, demonstrating a collaborative approach.
Smog staking
In order to participate in the SMOG airdrop campaign, traders need to complete tasks that are managed by Zealy. These earn airdrop points and the more that are earned, the greater the airdrop rewards potential. Tasks on Zealy include such things as inviting friends or making Smog videos for TikTok.
The project also offers a staking option that currently provides an annual yield of 42%.
Season 2 of the airdrops starts on April 4, shifting the focus to rewarding long-term holders of the token. Buying, holding, and trading $SMOG will become the most valuable activities, with the #SmogSwap hashtag taking center stage for promotion.
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