Internet Computer has seen some fluctuations in its Price recently, with the Coin currently trading at $8.17 after gaining 4.34% in the last 24 hours. This performance has outpaced the overall Cryptocurrency Market, which saw a 2.64% increase in total market cap during the same period. However, Internet Computer did not perform as well against Bitcoin, recording a -1.41% loss against the leading Cryptocurrency.
According to the latest Internet Computer price prediction, the coin is expected to reach $10.55 by Oct 16, 2024, representing a significant 30.34% price increase in the next five days.
Internet Computer Price Prediction Chart
On a broader scale, Internet Computer has been on a downward trend over the last 30 days, with a 6.20% decrease in its price during this period. Looking at the medium-term trend, ICP has dropped by 1.17% in the last 3 months, indicating a bearish outlook. However, the long-term picture for Internet Computer remains positive, with a 180.61% increase in price compared to a year ago. This time last year, ICP was trading at $2.91.
The all-time high for Internet Computer was recorded on May 10, 2021, when the price peaked at $497.71. Currently, the cycle high for ICP stands at $20.75, while the cycle low is at $2.86. Volatility for ICP has been relatively low, with a 1-month volatility rate of 6.19. Additionally, Internet Computer saw 13 green days in the last 30 days.
Internet Computer Technical Analysis for Today - Oct 11, 2024
The sentiment in the Internet Computer market is currently bearish, with the Fear & Greed index indicating fear among investors. Key support levels to watch include $7.85, $7.65, and $7.53, while key resistance levels are at $8.17, $8.30, and $8.49.
Bearish Sentiment for Internet Computer
Currently, 14 indicators are predicting a bullish trend for Internet Computer, while 15 indicators are signaling a bearish outlook. With 52% of indicators favoring a negative prediction, the overall sentiment for Internet Computer is bearish.
Crypto Market Sentiment
The Fear & Greed index stands at 32 (Fear), signaling a negative outlook among investors. This index is a measure of sentiment in the cryptocurrency market, with a "Fear" reading suggesting hesitancy among investors, potentially indicating a buying opportunity.
Internet Computer Moving Averages & Oscillators
Various technical indicators for Internet Computer are showing mixed signals. The Relative Strength Index (RSI) 14 is at 45.09, indicating a neutral stance. The 50-day Simple Moving Average (SMA) is bullish, with ICP trading above the trendline. In contrast, the 200-day SMA is also bullish, further supporting a positive outlook for Internet Computer.
Conclusion on Internet Computer Prediction
After analyzing the various factors affecting Internet Computer, the current forecast points to a bearish trend for ICP. To reach the $10.55 target within the next five days, ICP would need to increase by 30.34%. Monitoring market sentiment, key levels of support and resistance, and other metrics will be crucial moving forward. It's important to remember that cryptocurrency markets are highly volatile, and even major assets like Internet Computer can Experience sudden price fluctuations.
Disclaimer: This article does not constitute Investment advice. It is essential to seek professional consultation before making any investment decisions.
