Internet Computer (ICP/USD) Market Buying Momentum Decreases Progressively

Internet Computer Price Prediction – June 2

ICPUSD market buying momentum decreases progressively. The price seems to be converging within a consolidation zone after several attempts to break the diagonal support failed.
 
The Stochastic Oscillator indicated that the market was overbought from the $20.960 supply zone in late March 2024. ICPUSD has stayed in the discount zone since the signal caused a significant drop from the supply zone at $20.960. The price hasn’t had a significant drop or rise since; therefore, the SMA (Simple Moving Average) indications have been erratic.

ICP/USD Market Key Levels:

Resistance levels: $16.280, $20.960, $23.510
Support levels: $11.000, $9.530, $7.330

ICP/USD – Daily Chart

The ICP/USD daily chart showcases that the market’s buying momentum keeps decreasing progressively.
 
Following the conclusion of the retracement in January 2024, the diagonal support started. Prices formed higher highs and higher lows, indicating a substantial rally, as they rebounded off the key trendline.
 
From April 2024 on, there was tremendous downward pressure on the buying momentum. This led to a massive crash into the discount zone until the diagonal support was hit.

What is the potential scenario for the ICPUSD market shortly?

There has not yet been a significant breakout from either side of the pivotal levels. However, due to the current indication of the Stochastic Oscillator, a notable expansion to fill the FVG in the premium zone is likely.

ICP/BTC Price Analysis

ICPBTC is currently in a triangle pattern. Similar to ICPUSD, there has not yet been a significant breakout from either side of the pivotal levels. However, according to the indication of the Stochastic Oscillator, a pullback, though short-term, is probable.
 
Internet Computer (ICP) Current Statistics 
The current price: $11.980
Market Capitalization: $5,600,000,000
Trading Volume:$41,770,000

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