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ICP technical analysis, buy here for the long term!ICP looks very strong from a technical perspective. We can see that we have started this whole uptrend with an impulse wave 12345, which is very good to see if you are an Elliott Wave trader. We are now in a corrective phase, and usually we want to see a liquidity sweep below the previous wave (4). In this case, below 8.5 USDT - that would be a great level to buy ICP for the long term! What is the Internet Computer and ICP? The 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. Why Does the ICP token have value? The ICP token has three main utilities. Firstly, ICP provides a source of “cycles” that are burned to power computation (thus when ICP is converted to cycles, it disappears, creating deflationary pressure). Secondly, ICP can be staked in the permissionless Network Nervous System DAO that governs the Internet Computer blockchain, creating voting neurons that generate voting rewards. Thirdly, ICP plays the role of a store of value, for example allowing users to invest in decentralization sales run by web3 services.
Long
by Xanrox
14
ICP will continue in the parabolic trend, time to buy?ICP looks really strong; the uptrend just started, and I am expecting another 300% pump in the immediate short term. We can see that the price is moving in this ascending bullish parallel channel, and we have a lot of space for growth. From the Elliott Wave perspective, wave 3 is in progress, and wave 3 is usually the strongest wave. You do not want to miss this uptrend. Let me know what you think about my analysis, and please hit boost and follow for more ideas. Thank you, and I wish you successful trades! The ICP token has three main utilities. Firstly, ICP provides a source of “cycles” that are burned to power computation (thus when ICP is converted to cycles, it disappears, creating deflationary pressure). Secondly, ICP can be staked in the permissionless Network Nervous System DAO that governs the Internet Computer blockchain, creating voting neurons that generate voting rewards. Thirdly, ICP plays the role of a store of value, for example allowing users to invest in decentralization sales run by web3 services.
Long
by Xanrox
3
Internet Computer Price Surges By 40% Today! Will $ICP Hit $10?The altcoins have gained significant momentum in recent days as many tokens are successfully outperforming the top cryptocurrencies of the industry. Further, top altcoins such as BONK and Internet Computer (ICP) price have added massive value to their portfolio during the past month. Further, the ICP token has added over 38% within the past 24 hours, making it the top gainer of the day in the crypto industry. The Internet Computer price traded in a closed range between $4.060 and $4.750 for almost a month, indicating a disinterest among the investors in this token. December started positively as the ICP token price after multiple attempts, successfully broke out of the range, and displayed micro-price movements. The price gained approximately 20% in two weeks before it faced rejection at $5.698. After multiple attempts, the bulls regained momentum, but the rally was short-lived as the price faced rejection at $6.659. The price witnessed significant bullish sentiment as it added over 36% in value during the early trading hours today. Positively the Cross EMA 50-Day acts as a dynamic support for the ICP price, suggesting a high possibility of a bullish price action soon. Will ICP Price Rise Again? The Moving Average Convergence Divergence (MACD) displays a significant rise in the histogram, indicating an increased buying pressure for the coin. Moreover, the averages show a sharp rise, suggesting the price will continue gaining value this week. If the bulls continue to gain momentum, the price will test its resistance level of $9.068 soon. Maintaining the price at that level will set the stage for the ICP price to attempt to test its upper resistance level of $10 during the coming week. Conversely, if a trend reversal occurs, the price will lose momentum and prepare to test its support level of $7.390. Moreover, if the bears continue to overpower the bulls, it will plunge further and fall to test its lower support level of $6.659 in the days ahead.
Long
by DEXWireNews
1
Internet Computer (ICP) Next TargetInternet Computer (ICP) Contrary to other altcoins, ICP has shown a relatively muted response to the BTC rise. Although the asset has appreciated by 70% since October 15, it has not yet reached a new annual high, and the ICP growth rate remains somewhat sluggish. Currently, the asset is trading between a support zone of $3.94-$4.18 and a resistance level of $4.64-$4.96. If BTC continues its sideways trend above $37,000 or maintains its upward movement, ICP might follow a similar trajectory. The next target for buyers could be the psychological level of $5, with an additional notable level at $5.42 just above. In the event of a correction, ICP could retest its current buyer's zone, as well as potentially drop to the level of $3.78 and into the range of $3.5-$3.7.
Long
by DEXWireNews