The overall trend for Internet computer coin is still bearish. However, the price obtained significant demand from the $21.31 mark, suggesting a new recovery rally. The price is currently retracing to retest the flipped support of $32. Sustaining this level, the coin will continue to march upward.
Past Performance in ICP coin chart
During the last quarter of 2021, the Internet computer coin struggled hard to sustain above the $39.5 support. However, on December 3rd, the bears finally breached crucial support, resulting in extended price correction.
From the breakdown point, the coin price lost more than 43% and plunged to $21.31. The crypto investors indicated a good interest in this discount price, resulting in a sudden price recovery.
The $39.5 Mark Stand As Crucial Resistance For Internet Computer Price
The new rally in ICP coin price has managed to reclaim two significant resistance levels, $28.2 and $32.2. This pair is now trading at $34.17, projecting a 60% gain from the bottom support. The price has recently breached the $32.3 level, and therefore the crypto traders can expect a retest phase, prodigy a good entry opportunity to go long.
As mentioned above, the $39.5 was an important support level for these coin buyers. However, now the tables have turned, and the upcoming rally could experience strong rejection from this flipped resistance.
The 24hr volume change is $1.24 Billion by the press time, indicating a 36.2% hike. According to Coinmarketcap, the coin stands at 30th rank with its current market cap of $6.1 Billion(+1.
-Compared to the coin’s price action, the daily-RSI(63) line showed a superior recovery from its oversold region, indicating rising strength of the coin buyers
-The coin is still under a bearish trend, with the ICP price trading below the daily-100 and 200 EMA. However, the new rally has recovered the 20 and 50 EMA lines.
Important price action levels are;
Resistance: $33.6 $48.6
- Do Kwon Says Terra Collecting Snapshot Data For LUNA Airdrop
- Top ETH Whales Add These DeFi Tokens Amid Crypto Volatility
- Here’s Why Bitcoin (BTC) Could Be In for Another 50% Correction Under $15,000
- Another Top Exchange To Delist Terra UST Over Collapse
- Just-In: Vitalik Buterin No Longer A Billionaire As Ethereum Crashes
- Bitcoin Price: Key Metrics Show Surprising Insights
- After Terra Crash, Galaxy Digital CEO Warns Against Bottom Buying
- Shiba Inu (SHIB) Prices May Jump Next Week; Here’s Why
- Is Andre Cronje Back On Fantom? FTM Jumps 13%
- PlanB Says Bear Market Almost Over, Bitcoin (BTC) In Buying Range
- GALA Price Analysis: High Momentum Fallout Warns $0.075 Fallout
- Apecoin Price Prediction 2022 : The future of Web3 and NFTs ?
- Ethereum Classic Price Prediction 2022 : Here’s What to Expect from ETC Price ?
- SAND Price Analysis: SAND Buyers Await Trendline Breakout To Go Long
- Avalanche Price Analysis: AVAX Sellers Tease $30 Fallout; Sell or Hold?
- Bitcoin Price Analysis: BTC Price Strikes $30000; Breakout Or Fakeout?
- TRX Price Analysis – Another Bullish Attempt For $0.075 Breakout
- KuCoin Price Analysis: Low Volume Rally Hints Pullback Opportunity in KCS
- Polkadot Price Analysis: Bull Trap May Drag DOT Price To $7.3 Mark
- APE Price Analysis: Triangle Breakout Eyes 55% Rise in APE