NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: LINK Price Climbs Following Chainlink's Deal With US Commerce Department, Eyes $30
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: LINK Price Climbs Following Chainlink's Deal With US Commerce Department, Eyes $30

Internet Computer (ICP) Bleeds, What Are The Chances For Reversal?

Eli Dambel
Eli Dambel
1 year ago
2 mins read
Internet Computer

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Internet Computer (ICP) is trading red, hovering around the $5.6 price mark today, May 2, 2023. According to its daily chart, the bearish trend began two days ago, following three-day bullish moves.

The turn in the market sentiment has resulted in the recent plunge in ICP price. Aside from this, the world’s largest cryptocurrency, Bitcoin, is also down by 1.89% over the past 24 hours.

This could also be a factor affecting ICP’s price at the moment. While a reversal is not certain, some technical indicators can show whether or not the chances are high.

Internet Computer (ICP) Price Outlook

Judging from the ICP price of $3.9309 at the start of 2023, the token has made more bullish moves than bearish ones. ICP currently trades at $5.719, showing a 24-hour price decline of 5.99%.

Related Reading: Terra Classic Recent Efforts Could Benefit LUNC’s Growth Potential

The token’s market cap has dropped by 6.50% in the last 24 hours to around $2.46 billion. The trading volume within the same period has also declined by 20.69%, hovering around $60,208,714.

The plummeting value of the trading volume indicates more selling pressure among investors and traders. If this trend continues, ICP may likely see its price fall to the $5 price level before the end of the day.

Moreover, data suggests that the general price prediction sentiment of the Internet Computer token is bearish. Based on its findings, 17 indicators signal a bearish trend, while 11 technical indicators display bullish signals. But let’s consider some major indicators from the daily chart to confirm its potential move further.

ICP Technical Analysis

The price of the Internet Computer token is currently above the 50-day and 200-day Simple Moving Averages. While that is supposed to indicate a buy tendency, the Relative Strength Index (RSI) negates it, as it stands at 50.42. This figure suggests a neutral state in the ICP market but with higher odds of selling pressure.

Internet Computer (ICP) Bleeds Previous Gains, What Are The Chances For Reversal?
ICP plunger on the chart l ICPUSDT on Tradingview.com

The token made a Death Cross several days back which lead to a significant drop in its price. The market may create a Golden Cross later on, but this might come after a major decline in its price, considering the interpretation of the technical indicators.

Related Reading: AVAX Smart Contracts Hit 6-Month High – What This Means For Its Price

The chart also shows that ICP’s price fell from a resistance level of $6.339. Crypto traders and investors can expect its price to fall further to hit the closest support level of $4.996. Other resistance and support levels are $7.449 and $4.525, respectively.

Note that even while the technical indicators can be a helpful tool for analysis, investment decisions shouldn’t be made solely based on them. Traders should also consider various factors and risk management strategies.

Featured image from Pixabay and chart from Tradingview

Tweet123Share196ShareSend
Eli Dambel
Eli Dambel

Eli Dambel

Eli brings an eclectic point of view to market analysis. Currently, he writes about various asset classes, including Crypto and Stocks. Eli has been writing crypto oriented content for almost 6 years now and he is a hard core believer in Blockchain and is confident that it can reform the traditional financial system. He also thinks Bitcoin will become universal currency in the near future.

Read more

You can follow Eli on Twitter: @EliDambel

Close

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

prix-token6900-explose-potentiel-x3

TOKEN6900 s’envole de 65 % : les acheteurs ciblent 0,022 $ et un potentiel x3 à court terme

Jeudi 4 septembre 2025 – Le TOKEN6900 explose : le meme coin surnommé “Murad Coin” s’est envolé de 65 %...

guillaumev 2 hours ago

Bitcoin Could Slip In September Before Q4 Rally, Cycle Data Shows

Bitcoin has bounced back above $112,000 after slipping to $107,000 last week, its lowest mark since July. The rebound has...

Christian Encila 3 hours ago
Bitmine Adds Another $65.3M In Ethereum – Details

Bitmine Adds Another $65.3M In Ethereum – Details

Ethereum continues to display resilience in the face of recent volatility, holding firmly above the $4,200 level. Despite this strength,...

Sebastian Villafuerte 5 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

XRP

XRP Poised For Amazon-Like Boom? Analyst Predicts $200 Rally

Christian Encila 1 hour ago
Bitcoin

Crypto Analyst Warns 90% Bitcoin Price Crash Is Coming, Here’s When

Scott Matherson 2 hours ago
crypto-us-trading-spot-autorise-sec-cftc

Crypto US : trading spot autorisé par la SEC et la CFTC

guillaumev 2 hours ago

Premium Sponsors

Press Releases

  • miner

    ALL4 Mining Upgrade Injects New Power into Cardano (ADA)...

    3 hours ago
  • Bitget and Bitget Wallet Support Trading of Over 100...

    6 hours ago
  • Анализатор прогнозира, че BTC ще достигне 125 000 USD този месец

    Анализатор прогнозира, че BTC ще...

    9 hours ago
  • Un analist prezice că BTC va atinge 125.000 USD luna aceasta – presale-ul HYPER se apropie de 14 milioane USD pentru modernizarea Bitcoin-ului

    Un analist prezice că BTC va atinge 125.000 USD luna...

    9 hours ago
  • Top Altcoins

    Presale tiền điện tử hot nhất tháng 9: Top 4...

    10 hours ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.