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Internet Computer Price Prediction 2022 – Will ICP Hit $80 Soon?

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Internet Computer Price Prediction — Will ICP Hit $85 Soon?

  • Bullish ICP price prediction is $ 24.85 to $73.18.
  • The ICP price will also reach $80 soon.
  • ICP’s bearish market price prediction for 2022 is $16.70.

In Internet Computer’s (ICP) price prediction 2022, we use statistics, price patterns, RSI, RVOL, and much other information about ICP to analyze the future movement of the cryptocurrency. 

Internet Computer Current Market Status

According to CoinGecko, the price of ICP is  $14.83 with a 24-hour trading volume of $275,122,914 at the time of writing. However, ICP has decreased by nearly 17.6% in the last 24 hours.

Moreover, ICP has a circulating supply of 207,382,097 ICP. Currently, ICP trades in cryptocurrency exchanges such as Binance, OKX, DigiFinex, BitCoke, and Bybit.

What is Internet Computer (ICP)?.

The Internet Computer is the fastest and only infinitely scalable general-purpose blockchain. It also represents the third major blockchain innovation, alongside Bitcoin and Ethereum. The Internet Computer was incubated and launched by the DFINITY Foundation. The basic idea of ICP is to create a new kind of decentralized internet and global computing system, where independent data centers all over the world could join together to create an alternative to the cloud services that power most of the current internet.

The internet Computer attempts to offer a fundamental alternative so that developers can build, host, and serve applications in a more decentralized way allowing websites to be deployed directly onto the public internet.

Internet Computer (ICP) Price Prediction 2022

Internet Computer holds the 37th position on CoinGecko right now. ICP price prediction 2022 is explained below with a daily time frame.

ICP/USDT Descending Channel Pattern (Source: Tradingview)

A descending channel is a downtrend that moves between very accurate limits. It can be confined in two parallel lines from which one is a trendline resistance and the other act like a support. A descending channel is the exact opposite of an ascending channel. When the price is around the upper trend line, look for short opportunities, although aggressive traders could trade long and short at both trend lines looking for a bounce or pullback. As long as prices remain within the descending channel, the downward trend in price can be expected to continue

Currently, ICP is in the range of $14.83. If the pattern continues, the price of ICP might reach the resistance level of $22.30 & $38.44. If the trend reverses, then the price of ICP may fall to $16.11.

Internet Computer (ICP) Support and Resistance Level

The below chart shows the support and resistance level of ICP.

ICP/USDT Support and Resistance Level (Source: TradingView)

From the above daily time frame, it is clear the following are the resistance and support levels of ICP.

Resistance Level 1 $24.85
Resistance Level 2 $37.43
Resistance Level 3 $52.18
Resistance Level 4 $73.18
Support Level 1 $16.70
ICP Resistance & Support Level

The charts show that ICP has performed a bullish trend over the past month. If this trend continues, ICP might run along with the bulls overtaking its resistance level at $73.18.

Accordingly, if the investors turn against the crypto, the price of the ICP might plummet to almost $16.70, a bearish signal.

Internet Computer Price Prediction 2022 — RVOL, MA, and RSI

The Relative Volume (RVOL) of ICP is shown in the below chart. It is an indicator of how the current trading volume has changed over a period of time from the previous volume for traders. Currently, the RVOL of ICP lies below the cutoff line, indicating weaker participants in the current trend.

ICP/USDT RVOL, MA, RSI (Source: TradingView)

More so, the ICP’s Moving Average (MA) is shown in the chart above. Currently, ICP is in a bearish state. Notably, the ICP price lies below 50 MA (short-term), so it is completely in a downward trend. Therefore, there is a possibility of a reversal trend of ICP at any time.

Meanwhile, the relative strength index (RSI) of the ICP is at level 34.91. This means that ICP is in a nearly oversold state. However, this means a major price reversal of ICP may occur in the upcoming days. So, traders need to trade carefully. 

Internet Computer Price Prediction 2022 — ADX, RVI

Let us now look at Internet Computer Average Directional Index (ADX). It helps to measure the overall strength of the trend. The indicator is the average of the expanding price range values. This system attempts to measure the strength of price movement in the positive and negative directions using DMI indicators with ADX.

ICP/USDT ADX, RVI (Source: TradingView)

The above chart represents the ADX of Internet Computer. Currently, ICP lies in the range of 19.73, so it indicates a weak trend. 

From the above chart, the Relative Volatility Index (RVI) of ICP. RVI measures the constant deviation of price changes over a period of time rather than price changes. The RVI of ICP lies below the 50 levels, indicating that the direction of volatility is low. In fact, ICP’s RSI is at 34.91 level thus confirming a potential sell signal.

Comparison of ICP with BTC, ETH

The below chart shows the price comparison between Bitcoin, Ethereum, and Internet Computer.

BTC Vs ETH Vs ICP Price Comparison (Source: TradingView)

From the above chart, we can identify the trend of the ETH, BTC, and ICP is moving at the same level as the trend. This indicates that when the price of BTC increases or decreases, the price of ETH and ICP also increases or decreases respectively.

Conclusion

With continuous improvements in the Internet Computer network, we can say that 2022 is a good year for ICP. For this reason, the bullish price prediction of Internet Computer in 2022 is $73.18. On the other hand,  the bearish ICP price prediction for 2022 is $16.70.

Furthermore, with the advancements and upgrades on the ICP ecosystem, the performance of ICP would help to reach above its current all-time high (ATH) $700.65 very soon. But, it might also reach $80 if the investors believe that ICP is a good investment in 2022.

FAQ

1. What is an Internet Computer?

The Internet Computer is the fastest and only infinitely scalable general-purpose blockchain. It also represents the third major blockchain innovation, alongside Bitcoin and Ethereum. 

2. Where can you purchase ICP?

ICP has listed on many crypto exchanges which include Binance, OKEx, Mandala Exchange, Huobi Global, and Bybit.

3. Will ICP reach a new ATH soon?

With the ongoing developments and upgrades within the ICP platform, it has a high possibility of reaching its ATH soon.

4. What is the current all-time high (ATH) of Internet Computer?

On May 10, 2021, ICP reached its new all-time high (ATH) of  $700.65 .

5. Is ICP a good investment in 2022?

Internet Computer (ICP) seems to be one of the top-gaining cryptocurrencies this year. According to the recorded achievements of ICP in the past few months, ICP is considered a good investment in 2022.

6. Can Internet Computer (ICP) reach $85?

Internet Computer (ICP) is one of the active cryptos that continues to maintain its Bullish state. Eventually, if this bullish trend continues then Internet Computer (ICP) will hit $80 soon.

7. What will be the ICP price by 2023?

Internet Computer (ICP) price is expected to reach $97 by 2023.

8. What will be the ICP price by 2024?

Internet Computer (ICP) price is expected to reach $104by 2024.

9. What will be the ICP price by 2025?

Internet Computer (ICP) price is expected to reach $119 by 2025.

10. What will be the ICP price by 2026?

Internet Computer (ICP) price is expected to reach $127 by 2026.

Disclaimer: The opinion expressed in this chart solely author’s. It does not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.

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The post has appeared first on thenewscrypto.com

Internet Computer Price Prediction 2022 – Will ICP Hit $80 Soon?

 

 

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