Internet Computer Price Analysis
If you are interested in knowing icp coin forecast then keep on reading this post will assist you to detrermine that is icp coin a good investment. According to data from CoinMarketCap, Internet Computer (ICP) has been trying to find a bottom after a long decline that has caused its price to fall from its all-time high of $750.73 to where it is now. On July 12, 2022, buyers want to stop ICP from going down to $6. The Dfinity Foundation, a non-profit Swiss group working on blockchain technology for the Internet Computer, made the news because of how it dealt with the law.
The Swiss NGO sued Meta Platforms in a federal court in California on April 29 because of the company’s logo. Dfinity says that Meta’s logo is too similar to its own, which could hurt the company “if customers think of Dfinity as having a bad history with online privacy”
In response to an article that came out in June 2021, Dfinity said it had filed a lawsuit against The New York Times, Arkham Intelligence, its founders, and Times reporters Andrew Ross Sorkin and Ephraim Livni. Danielle Rhoades Ha, a spokesperson for the Times, told Politico, “We are confident in the accuracy of our reporting and plan to fight any lawsuits with all our might.”
Will a higher Internet Computer low mean that a new uptrend is about to start? Is it possible for the Internet Computer to fly? Find out more by reading the ICP price analysis. ICP’s price has been going down slowly over the past few months. Except for a big recovery that happened between July and September of 2021, most recoveries have lasted about three weeks.
The relative strength index (RSI), which shows that sellers are in charge, is still in the oversold region, which means that sellers are in charge. But bulls hope to stop the drop near the important $5 mark. When bears tried to push the price down below $5, bulls bought a lot. Now, the buyers will try to get the price up to more than $7.50. If the rally for help goes well, $10 might be raised.
The price of ICP broke out of the $5 to $6.50 range on July 8, showing that bulls beat bears. The RSI has reached the green zone, which shows that there is a slight advantage to buying. The bulls, on the other hand, couldn’t keep the price above $6.50. On July 10, the bears drove the price below the barrier level.
If the price doesn’t go back up above $6.50 in the next few days, bears will try to push the ICP/USD pair down to $5. If this happens, it shows that traders are still selling when prices go up, which means that sentiment is still bad.
If, on the other hand, the price goes back above $6.50, that will show that traders are buying when prices go down. This could make it more likely to win more than $7.50. In this situation, the pair might try to go up to $8 before trying to go up to $10. At this altitude, bears will definitely be a big problem.
Do you want to buy or sell something?
Internet Computer is trying to set a price floor of $5. If buyers push the price above $6.50 right away, it’s more likely that the price will go up to $7.50 and then to $10. But Internet Computer’s price analysis shows that if the price falls below $6, it is likely to go down to $5.
The author’s ideas and thoughts are his or her own, and they are not meant to be trading advice. Before you decide how to trade or invest, you should do your own research or talk to a financial expert.