#cash #crypto #cryptocoin #cryptocoin.pk #cryptocurrency #Radix

  • Regardless of the value hike, bearish sentiment round ICP was dominant available in the market.
  • Derivatives metrics appeared bullish, however a number of indicators steered in any other case. 

Web Laptop [ICP] has showcased an excellent efficiency within the latest previous, thereby rising its market capitalization. Because of the latest value uptick, it turned the sixteenth largest crypto by market cap.

Contemplating ICP’s progress charge, ought to traders count on ICP to enter the highest 10 record anytime quickly?

A take a look at ICP’s efficiency

2024 started with a bull rally for ICP as its value rallied considerably. In accordance with CoinMarketCap, ICP was up by greater than 72% within the final seven days.

Within the final 24 hours alone, its worth surged by 20%. On the time of writing, ICP was buying and selling at $15.31 with a market capitalization of over $6.9 billion.

The excellent news is that the value hike was accompanied by a 100% enhance in buying and selling quantity, which by and huge is a typical bull sign.

Due to the large hike in value, its Social Dominance spiked lately as expectations from the token elevated. Its Value Volatility 1w shot up as nicely.

Nonetheless, regardless of the worth uptick, bearish sentiment across the token surged, as evident from the dip in its Weighted Sentiment. Improvement Exercise across the blockchain sank over the past week as nicely.

Supply: Santiment

Will ICP keep its bull rally?

Contemplating ICP’s beautiful efficiency over the past week, AMBCrypto analyzed whether or not the token would maintain its bull rally within the days to observe.

Our evaluation of Santiment’s information discovered that Web Laptop’s Open Curiosity elevated together with its value. A hike in Open Curiosity will increase the probabilities of the present market pattern persevering with additional.

Supply: Santiment

Its Binance Funding Charge was additionally within the inexperienced, that means that derivatives traders had been actively shopping for ICP at a better value at press time. Nonetheless, CryptoQuant’s information flagged a pink sign for.

Notably, Web Laptop’s Relative Power Index (RSI) was within the overbought zone at press time. This would possibly enhance promoting stress on ICP, thereby placing an finish to its bull rally. 

Extra bearish indicators had been revealed when AMBCrypto checked ICP’s day by day chart by way of TradingView, which confirmed that the value had touched the higher restrict of the Bollinger Bands.

How a lot are 1,10,100 ICPs price at this time?

Its Chaikin Cash Circulation (CMF), registering a downtick, went beneath the impartial mark.

Nonetheless, InternetComputer’s MACD displayed a bullish benefit available in the market, whereas its On-balance Quantity (OBV) remained excessive.

Supply: TradingView

Supply hyperlink

Leave a Reply

Your email address will not be published. Required fields are marked *

WP Twitter Auto Publish Powered By : XYZScripts.com