- Internet Computer (ICP) has seen significant volatility, influenced by Bitcoin’s recent sharp decline.
- ICP has dropped almost 17% in the last week.
- Despite recent turbulence, ICP is up 7% over the last 30 days.
- A Hidden Bullish Divergence in the RSI suggests ICP is poised for recovery.
- Analyst predicts ICP could hit $79.57, representing a 750% rise.
Internet Computer (ICP) has seen much turbulence in its market performance recently. It seems to be greatly influenced by the recent sharp decline of Bitcoin (BTC). The token has dropped almost 17% in just the last week. If one looks at a longer time frame, though, Internet Computer has shown some mettle, the value of the coins is up 7% over the last 30 days.
Despite this recent volatility, market analysts haven’t lost one iota of optimism. Despite the short-term bear trend, experts are still very positive about the future price action for the token. Many analysts believe Internet Computer is due to experience a significant surge upward, which could bring considerable gains for investors.
At the moment, Internet Computer trades at $8.23, with a 24-hour trading volume of $184.50 million. Its market capitalization stands at $3.82 billion, giving it a dominance of 0.17% in the crypto market. Notably, Internet Computer’s price has dropped by 11.02% in the last 24 hours.
Internet Computer (ICP) Could Climb 750% by Analyst’s Estimate
Javon Marks, a renowned analyst, has shared a compellingly optimistic outlook on the price trajectory of Internet Computer (ICP). Marks’ insights suggest a significant bullish trend for Internet Computer, one that could yield remarkable returns for investors.
According to Marks, the recent performance of ICP has exhibited a Hidden Bullish Divergence with the Relative Strength Index (RSI). This technical indicator, which compares recent gains to recent losses, is often used to identify potential reversal points in a market. The Hidden Bullish Divergence suggests that despite recent fluctuations, ICP’s underlying strength is poised for a robust recovery
Marks points out that ICP has already shown resilience by confirming its strength through recent price actions. This recovery could see Internet Computer reclaiming and surpassing its post-breakout high of $20.96. Achieving this milestone would represent an impressive 129% increase from its current levels.
Marks’ analysis doesn’t stop here. He believes that ICP’s price might go up to an even higher target of $79.57. This aggressive target implies a whopping rise of 750% from current prices. Such dramatic rise is not unprecedented in the extremely volatile world of cryptocurrencies, where huge gains could occur within a blink of an eye.
While the prospect of a 750% increase is tantalizing, Marks emphasizes that time is the only significant barrier to this potential growth. He suggests pullbacks, rather than hindering the progress moved forward, will likely serve to reinforce the upward momentum. These temporary dips can provide buying opportunities, further fuelling up the rise towards the higher target.
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