ICP Price Gathers Bullish Momentum! Internet Computer Price To Record 15% Jump Soon?

The post ICP Price Gathers Bullish Momentum! Internet Computer Price To Record 15% Jump Soon? appeared first on Coinpedia Fintech News

The ICP token has successfully crossed the $5 Billion valuation during the early trading hours today, resulting in it entering the top 20 tokens list. Further, the Internet Computer price has added over 7.5% within the past 24 hours, making it one of the top gainers of the day.

The ICP coin price constantly traded in a closed range between $8.801 and $10.320 for a brief period, following which the market gained momentum and the price surged. The Internet Computer token jumped over 58% in valuation, after which the price faced rejection at $13.966.

After multiple attempts, the bulls regained momentum and broke out of the range. However, the rally was short-lived as the price faced rejection at $15.359.

TradingView: ICP/USDT

The ICP price traded sideways for a while, following which the market lost momentum and the token recorded a correction of approximately 33%.

The bulls quickly regained momentum and recorded a jump of 35.5% before facing rejection at $13.966. After this, the price traded between $12.219 and $13.966 for over a week. The bulls struggled to hold the price above the support level of $12.219, resulting in a price breakdown.

Since then, the price has been constantly trading in a consolidated range between $10.320 and $12.219 and is on the verge of testing its resistance level, of which the outcome is unpredictable.

Will ICP Price Bounce Back?

The Moving Average Convergence Divergence (MACD) displays a constant green histogram, indicating an increased bullish influence in the crypto industry. Further, the averages show a constant rise, suggesting the price will continue gaining value in the coming days.

If the bulls push the price above the resistance level of $12.219, the ICP price will test its upper resistance level of $13.966 soon. Maintaining the price at that level will set the stage for the Internet Computer price to attempt to test its resistance level of $15.329 in the coming time.

Conversely, if the bears overpowered the bulls, the ICP token would fall and test its support level of $10.320. Moreover, if the bears continue to dominate the market, it will plunge and prepare to test its lower support level of $8.801 by next week.