ICP Price Analysis: ICP shows bullish potential at $4.32

• The ICP, Internet Computer blockchain incorporates a radical rethink of blockchain design, powered by innovations in cryptography. 

• It provides the first “World Computer” blockchain that can be used to build almost any online system or service, including demanding web social media, without need for traditional IT such as cloud computing services. As such it can enable full end-to-end decentralization.

• The ICP token is a native token of the Internet Computer protocol that powers the Internet Computer. The ICP token is used to pay transaction fees, provide access services, and incentivize developers and validators of the ICP protocol. The total ICP token supply is a fixed number and is designed to be deflationary.

• The ICP token was created by DFINITY Foundation. The DFINITY Foundation is a non-profit organization based in Zurich Switzerland. Led by Chief Scientist and Founder, Dominic Williams, the DFINITY team includes experts from the Blockchain, Cryptography, Distributed Systems, and Computer Science fields. The Foundation funds research and development, manages and administers the protocol, and provides community support.

The price of Internet Computer (ICP) went down today.

• The price of Internet Computer (ICP) is $4.32 today with a volume of  $83.520.6 million in 24 hours trading.

• This means that the price of Internet Computer decreased by -9.05 % in the past 24 hours and increased by 4.16 % in the last 7 days. The circulating supply of ICP is 450 Million. The market cap of Internet Computer is $1.941.6 billion.

Technical Analysis

On Daily timeframe level the price action of $ICP is respecting at its Horizontal Resistance level where the price action can flip out this level 

If the price action flips out this resistance level into the support level we can expect some Bullish momentum in the price of $ICP

The price has reversed its trend to an uptrend following a bullish breakout from a Falling Wedge pattern, which is supported by the 200-day MA.

The price is now close to the $5-00 resistance area. It is expected that the price will either break above $5-00 to signal the continuation of the uptrend, or that it will retreat near $4-00-200-day MA support in order to initiate a swing entry in the uptrend, potentially bringing the price back to $5-00 (setting a price alert).

The MACD Line is higher than the MACD Signal Line, and the RSI is higher than 55. The nearest support zone is $3-50, followed by $2-87, and the nearest resistance zone is $4-50, which it has broken, followed by $5-00.

Historical price

The most recent data has revealed that the price of Internet Computer (ICP) is currently at $4.82, with ICP currently ranking 31st in the entire cryptocurrency ecosystem.

The total supply of Internet Computer in circulation is $2.160 million, and the total market cap of ICP is 448.495 million.

In the last 24 hours, ICP has increased by $0.30, while the average value has risen by $2.64. Over the past month, ICP has seen a 54.9% increase, resulting in a 14.22% increase in value. This rapid growth indicates that ICP could become a viable asset in the near future if it continues to expand. This could be a great opportunity to invest in ICP.

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All Time High

On May , 2021, the highest price for an Internet Computer (IcP) was recorded, amounting to $700.65. This was more than two years in the past, and the current price is significantly lower than the previous all-time high, having fallen by -99.38%.

All Time Low

On September , 2023, the lowest price for Internet Computers (ICP) was recorded, amounting to $2.87. This was approximately two months in the past. The current price of ICP is 51.00% higher than the previous record low price.

Price Prediction

The technical analysis of estimated Internet Computer prices for 2023 suggests that the minimum price of an Internet Computer is expected to be $3.56, while the maximum level of the Internet Computer Price (ICP) is estimated to be $6.78, with an average trading price of $9.99, resulting in a potential return on investment of 44.6%.

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Conclusion

Basically, ICP is a game-changer when it comes to decentralized computing. It’s a platform that lets you do all sorts of online stuff without relying on an IT system. The ICP token is designed to be really cheap, so it’s really important for giving people access to services, and rewarding people who use it. Right now, the price of ICP is going down, but there’s a lot of potential for it to go up.

It’s been dropping for a while, but the technical analysis shows that it could be on the rise. The price of ICP has dropped a lot since May 2021, but it looks like it’s going to go up again soon. If you want to invest in ICP, you should look out for 2023 prices – they could be worth 44.6% of your investment!