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Internet Computer Price Prediction: ICP Rises 8% Overnight, But Whales Are Looking Elsewhere

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Internet Computer Price
Internet Computer Price

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The Internet Computer price has risen 7% today, reaching $4.01 as of 6:20 a.m. EST. 

This increase in ICP’s value is also evident in its weekly performance, with a 23% gain, driven by a 163% increase in the 24-hour trading volume, pushing the market cap to $73.8 million.

https://twitter.com/ascrypto13/status/1718726353330020491?s=20

Internet Computer Price Must Surpass $4.6 Resistance for Bullish Confirmation

ICP/USD Chart Analysis. Source: Tradingview.com
ICPUSD Chart Analysis. Source: Tradingview.com

The ICP price chart shows a double bottom pattern at the $2.87 support zone, which has provided a strong foundation for bullish momentum. This pattern triggered a bullish rally that drove the price to $4.22, coinciding with the 200-day SMA.

The price crossing above the 50-day Simple Moving Average (SMA) adds more backing to the expected bullish rally, potentially propelling ICP past the present resistance level of $4.22. At the moment, the 50-day SMA serves as immediate price support.

ICP bulls are determined to drive the price upwards, and this is reinforced by the relative strength index (RSI), which rebounded from 46 to 79, surpassing the overbought threshold of 70. This indicates potential upward price movement within the ongoing bullish trend.

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Investors can generate passive income by utilizing $MK on the Meme Kombat Platform, which features automatic staking benefits during the presale, diverse betting options, and a well-designed tokenomics model for lasting and sustainable growth.

To gain a deeper understanding of how Meme Kombat operates, including its staking feature, check out Cilinix Crypto’s YouTube video. 

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