Internet Computer [ICP] showcased commendable performance in the last 24 hours as the token’s price surged in double digits.
showcased commendable performance in the last 24 hours as the token’s price surged in double digits. Therefore, AMBCrypto planned to take a closer look at the token’s state for ICP price prediction., ICP registered a massive bull rally as the bulls pushed the token’s price up by more than 13% in the last 24 hours. At the time of writing, ICP was trading at $8.71 with a market capitalization of over $4 billion, making it the 21st largest crypto.
The good news was that the token’s trading volume also surged substantially along with its price, acting as a foundation for the price uptick.For instance, AMBCrypto’s analysis of Santiment’s data revealed a spike in Internet Computer’s weighted sentiment. This meant that bullish sentiment around the token increased.
Moreover, its social volume also spiked, reflecting a hike in the token’s popularity in the crypto space.However, while the market sentiment turned bullish, a major metric turned in the bears’ favor. As we looked at Coinglass’This meant that there were more short positions in the market than long positions, suggesting a bearish edge in the market. Apart from that, ICP’s fear and greed index was in a greed position at press time.Source: CFGI.
This was the case, as liquidation will rise at that mark, which can result in a price correction. However, a price drop could push ICP down to $6.9.Mentioning the technical indicators, the MACD displayed a bullish advantage in the market.The Money Flow Index also registered a sharp uptick hinting at a further price rise.
If Internet Computer’s long term price prediction is to be considered, then a continued price rise would allow the token to reclaim $10. A slip above that would allow ICP to eye $19 again in the coming weeks or months.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Ethereum whales buy $19 mln in ETH – Bullish sign?CryptoQuant’s data shows Ethereum exchange inflows are at their lowest in the past 30 days, suggesting that the ETH could soon skyrocket.
Read more »
Polygon price prediction – What’s next as MATIC’s recovery gains amount to 20%?Polygon's price prediction showed MATIC's gains hit nearly 20%. Can bulls clear its overhead hurdles and recover even more?
Read more »
Notcoin price prediction: After 16% surge, will NOT fall 20%?The Notcoin price prediction was bearish after the bulls attempted a bullish breakout on Wednesday but were rebuffed from a resistance zone
Read more »
Gold market analysis for August 20 - key intra-day price entry levels for active tradersThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Read more »
BitTorrent price prediction: What’s next as BTT soars 20%, outshines Bitcoin?BitTorrent price prediction revealed that BTT has hit a key Q3 supply zone after rally 20% on Wednesday. Can it clear the hurdle?
Read more »
FLOKI price prediction – How can you capitalize on a potential 20% hike?FLOKI bulls have succeeded in driving the price past a local resistance zone, bringing in a bullish market structure in the process...
Read more »