In this Internet Computer (ICP) price prediction 2024, 2025-2030, we will analyze the price patterns of ICP by using accurate trader-friendly technical analysis indicators and predict the future movement of the cryptocurrency.
Internet Computer (ICP) Current Market Status
What is Internet Computer (ICP)
Internet Computer (ICP) is the native utility token of the Hedera network. Hedera is a decentralized hashgraph distributed ledger technology. ICP was launched during its ICO in 2018. Hedera network’s mainnet went live in 2019. Hedera network serves majorly as a distributed file service.
Rather than being built on any blockchain, the Hedera network is built on the hashgraph model that is secured by the proof-of-stake (PoS) consensus mechanism. It uses a patented algorithm that makes it a non-forkable network. The transactions on Hedera are faster and occur at low costs. The hashgraph distributed ledger is secure and immutable as Hedera deploys asynchronous byzantine fault tolerance (aBFT).
Internet Computer 24H Technicals
Internet Computer (ICP) Price Prediction 2024
Internet Computer (ICP) ranks 28th on CoinMarketCap in terms of its market capitalization. The overview of the Internet Computer price prediction for 2024 is explained below with a daily time frame.
In the above chart, Internet Computer (ICP) out a horizontal channel pattern, also known as the sideways trend. In general, the horizontal channel is formed during price consolidation. In this pattern, the upper trendline, the line that connects the highs, and the lower trendline, the line that connects the lows, run horizontally parallel and the price action is contained within it.
A horizontal channel is often regarded as one of the suitable patterns for timing the market as the buying and selling points are in consolidation.
At the time of analysis, the price of Internet Computer (ICP) was recorded at $9.035. If the pattern trend continues, then the price of ICP might reach the resistance levels of $9.851 and $12.964. If the trend reverses, then the price of ICP may fall to the support levels of $8.304 and $6.760.
Internet Computer (ICP) Resistance and Support Levels
The chart given below elucidates the possible resistance and support levels of Internet Computer (ICP) in 2024.
From the above chart, we can analyze and identify the following as resistance and support levels of Internet Computer (ICP) for 2024.
Internet Computer (ICP) Price Prediction 2024 — RVOL, MA, and RSI
The technical analysis indicators such as Relative Volume (RVOL), Moving Average (MA), and Relative Strength Index (RSI) of Internet Computer (ICP) are shown in the chart below.
From the readings on the chart above, we can make the following inferences regarding the current Internet Computer (ICP) market in 2024.
Internet Computer (ICP) Price Prediction 2024 — ADX, RVI
In the below chart, we analyze the strength and volatility of Internet Computer (ICP) using the following technical analysis indicators — Average Directional Index (ADX) and Relative Volatility Index (RVI).
From the readings on the chart above, we can make the following inferences regarding the price momentum of Internet Computer (ICP).
Comparison of ICP with BTC, ETH
Let us now compare the price movements of Internet Computer (ICP) with that of Bitcoin (BTC), and Ethereum (ETH).
From the above chart, we can interpret that the price action of ICP is similar to that of BTC and ETH. That is, when the price of BTC and ETH increases or decreases, the price of ICP also increases or decreases respectively.
Internet Computer (ICP) Price Prediction 2025, 2026 – 2030
With the help of the aforementioned technical analysis indicators and trend patterns, let us predict the price of Internet Computer (ICP) between 2025, 2026, 2027, 2028, 2029 and 2030.
Conclusion
If Internet Computer (ICP) establishes itself as a good investment in 2024, this year would be favorable to cryptocurrency. In conclusion, the bullish Internet Computer (ICP) price prediction for 2024 is $14.068. Comparatively, if unfavorable sentiment is triggered, the bearish Internet Computer (ICP) price prediction for 2024 is $4.496.
If the market momentum and investors’ sentiment positively elevate, then Internet Computer (ICP) might hit $15. Furthermore, with future upgrades and advancements in the Internet Computer ecosystem, MKR might surpass its current all-time high (ATH) of $750.73 and mark its new ATH.
This content was originally published by our partners at The News Crypto.