Internet Computer (ICP/USD) Market Keeps Rallying Alongside the Major Trendline
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Internet Computer Price Prediction – May 26
The ICPUSD market keeps rallying alongside the major trendline. The market has proven it difficult to break the major trendline as the price keeps ranging.
From the $20.960 supply zone in late March 2024, the market was overbought according to the RSI (Relative Strength Index). Since the massive fall from the supply zone at $20.960 as a result of the indication, ICPUSD has remained in the discount zone. The signals of SMA (Simple Moving Average) have since been fluctuating as the price has yet to make a notable decline or rally.
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 keeps rallying alongside the major trendline.
The major trendline began after the conclusion of the retracement in January 2024. As prices bounced off the major trendline, a notable rally began with higher highs and higher lows clearly in formation.
The buying momentum was faced with immense downward pressure as the first quarter of the year came to an end. The market has been ranging within the major trendline and $14.140 price level.
What is the potential scenario for the ICPUSD market in the near future?
As the price bounced downward from $16.280, an FVG (Fair Value Gap) formed at $14.140. A massive breakout from either side of the key levels is yet to occur. However, as the price keeps ranging, a surge into the FVG is probable.
ICP/BTC Price Analysis
ICPBTC is also consolidating within a triangle pattern. The price of Internet Computer has been falling against that of bitcoin since the bounce off the 0.0003030 resistance.
The price, since April 2024, has been falling alongside a diagonal resistance. As the market enters the oversold condition according to the RSI, a bullish breakout and invalidation of the diagonal resistance are expected.
Internet Computer (ICP) Current Statistics
The current price: $12.290
Market Capitalization: $5,670,000,000
Trading Volume:$53,600,000
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