Internet Computer (ICP) Price Prediction - Oct 27, 2024

ICP price is expected to rise by 30.21% in the next 5 days according to our Internet Computer price prediction

ICP is currently trading at $ 7.86 after rising by 4.01% in the last 24 hours. The coin outperformed the cryptocurrency market, as the total crypto market cap increased by 1.90% in the same time period. ICP performed well against BTC today and recorded a 2.59% gain against the world’s largest cryptocurrency. According to our Internet Computer price prediction, ICP is expected to reach a price of $ 10.19 by Nov 01, 2024. This would represent a 30.21% price increase for ICP in the next 5 days.

Internet Computer has been displaying a negative trend recently, as the coin lost -18.62% in the last 30-days. The medium-term trend for Internet Computer has been bearish, with ICP dropping by -15.95% in the last 3 months. The long-term picture for Internet Computer has been positive, as ICP is currently displaying a 118.01% 1-year price change. On this day last year, ICP was trading at $ 3.61.

Internet Computer reached its all-time high price on May 10, 2021, when the price of ICP peaked at $ 497.71. The current ICP cycle high is $ 20.75, while the cycle low is at $ 2.86. ICP has been displaying low volatility recently – the 1-month volatility of the coin is at 6.55. Internet Computer recorded 13 green days in the last 30 days.

The sentiment in the Internet Computer markets is currently Bearish, and the Fear & Greed index is reading Greed. The most important support levels to watch are $ 7.56, $ 7.39 and $ 7.24, while $ 7.88, $ 8.03 and $ 8.20 are the key resistance levels.

4 indicators are currently signaling a bullish prediction for Internet Computer, while 22 indicators are showing a bearish forecast. With 85% of indicators favoring a negative prediction. This results in an overall Bearish sentiment for Internet Computer.

Currently, the Fear & Greed index is at 69 (Greed), which signals that investors have a positive outlook on the market. The Fear & Greed index is a measure of sentiment among cryptocurrency investors. A “Greed†reading suggests that investors are currently optimistic about the cryptocurrency market, but can also be an indication that the market is overvalued. A “Fear†reading, on the other hand, signals that investors are currently hesitant about the cryptocurrency market, which potentially represents a buying opportunity.

Let’s take a look at what some of the most important technical indicators are signaling. We’ll be going through key moving averages and oscillators that will allow us to get a better idea of how Internet Computer is positioned in the market right now.

The Relative Strength Index (RSI 14) is a widely used indicator that helps inform investors whether an asset is currently overbought or oversold. The RSI 14 for Internet Computer is at 42.09, suggesting that ICP is currently neutral.

The 50-day Simple Moving Average (SMA 50) takes into account the closing price of Internet Computer over the last 50 days. Currently, Internet Computer is trading above the SMA 50 trendline, which is a bullish signal.

Meanwhile, the 200-day Simple Moving Average (SMA 200) is a long-term trendline that’s calculated by taking an average of the ICP closing price for the last 200 days. ICP is now trading above the SMA 200, signaling that the market is currently bullish.

After considering the above factors, we can conclude that the current forecast for Internet Computer price prediction is Bearish. ICP would have to increase by 30.21% to hit our $ 10.19 target within the next five days. Moving forward, it will be important to monitor the ICP market sentiment, the key support and resistance levels, and other metrics. However, we have to keep in mind that the cryptocurrency markets are unpredictable, and even the largest crypto assets display a lot of price volatility. For longer-term Internet Computer price predictions click here.

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