Internet Computer (ICP) excels in crypto market as everyone loses – CVBJ

The cryptocurrency market is gripped by intense fear, but despite this, the ICP for cryptocurrency, the original to the Internet computer network, has jumped higher in recent days.

At the time of writing, ICP was trading at $33.90, accumulating a loss of 6.20% in today’s session, but maintaining a gain of 20% in the last 7 days.

It is the only cryptocurrency in the top 100 cryptocurrency ecosystem, which has made a profit in the past few days. It currently has a market capitalization of $6,481 million, which makes it 28th in the CoinMarketCap ranking.

Internet Computer (ICP) is the only one to gain in the Top 100 list.Internet Computer (ICP) is the only one to gain in the top 100 list. Source: CoinMarketCap.

To put us in context, an internet computer is a blockchain that runs at the speed of the web, with unlimited scalability.

It is arguably the third great innovation in the blockchain, along with Bitcoin and Ethereum, because it is a virtual computer capable of scaling computing, storing data from smart contracts, implementing them at the speed of the web and providing powerful software frameworks for developers.

Its scalability makes it one of the most attractive today, due to the rapid growth of the decentralized application market. In addition, the possibility that this network will allow communication between different block chains makes it gain more popularity.

Online Computer Technical Analysis (ICP)

In the daily ICP vs USDT chart, we clearly see how the price of this cryptocurrency has remained bullish in recent days, despite the general negativity across the market.

The price was correcting slightly today, but the bullish force is still fully in control.

Constantly rising lows and highs tell us that the internet computer should go up in the short term.

If the $30.23 support holds, it is quite possible that this coin will head towards $43.46 in the next few days.

medium term outlook

In the weekly chart of this cryptocurrency, we see a very promising scenario, which could generate very good profits during the first half of 2022.

In the middle of 2021, this cryptocurrency was launched, and almost immediately entered the ranks of the largest. Just a day after its launch, ICP was already the fifth largest coin in the crypto ecosystem.

But these feelings will not last long. After touching the high of $2,831.02, a major correction started quickly, and 4 weeks ago the low of $20.88 was reached.

Now it seems that the Internet computer price is ready to recover strongly after this crash. The bullish volume seen last week seems to indicate that the bottom of the decline has already been reached.

The bullish divergence between the price chart and the RSI also warns that a strong rally may not occur yet.

We cannot yet confirm that this will be the case. There is even a fairly high risk that the losses will last a little longer. But it seems more likely that this coin has already bottomed, or at least very close to doing so.

To confirm that the bulls regain control, the resistance at $53.52 must be broken.

If this support at $22.65 is lost, we could see further selling below.

Internet Computer ICP token price weekly chart.  Source: TradingView. Internet Computer ICP token price weekly chart.  Source: TradingView. Internet Computer ICP token price weekly chart.  Source: TradingView. Internet Computer ICP token price weekly chart. Source: TradingView.

All of our publications are very informative, so in no way should they be followed as investment advice.

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