Internet Computer (ICP) Prices It was a tough week, but ended at breakeven. The price was unable to find a clear direction and remained near the demand zone throughout the week. Despite a strong start to the week, ICP was unable to capitalize on its gains and stayed in the red.
Previously, internet computer prices The strong decline came amid overall market weakness, but the market leader recovered after the crash. International Cerebrospinal Fluid It lagged behind and consolidated near support.
After a weak to mixed performance in the first half of August, investors are likely considering whether to hold. International Cerebrospinal FluidLet us analyze it from a price perspective and get a clear idea of where ICP is heading in the future, whether it is bullish or bearish.
Weighted Emotion Curve Suggests Possibility of Recovery
After last week’s bear market, International Cerebrospinal Fluid It has been able to hold above support this week, suggesting price stability, and the weighted sentiment curve appears to have improved in recent sessions, suggesting a recovery is possible.
The weighted sentiment curve is approaching the zero line as the positive sentiment curve has improved. Sentiment data shows that it has improved from the bearish zone. The improvement in the weighted sentiment curve suggests that the price may be headed for a recovery in the coming sessions.
The weighted sentiment curve reflects the combined bias of traders and investors. The volume to market capitalization ratio of 1.47% suggests low volatility in the cryptocurrency. International Cerebrospinal Fluid It ranks 24th in the cryptocurrency space with a market capitalization of $3.2 billion.
Internet Computers Pricing Analysis: Breakout or Breakdown?
Trend analysis highlights a long-term bearish trend below the 200-day EMA, however the short-term trend outlook appears sideways at the moment and is primarily dependent on the next decisive move. International patent.
At the time of writing, International Cerebrospinal Fluid It has been consolidating near the demand zone and was waiting for a directional push up. Now, if the price breaks out of the consolidation phase, a rally towards the $10 levels is likely. Conversely, a drop below the $6.6 levels could initiate a fresh sell-off for the cryptocurrency.
At the time of writing, the RSI line is near 43.7 points and the 14-day SMA line is at 39.49 points, indicating a flat trend. Moreover, a bullish crossover of both lines has been observed, suggesting a possible recovery in the coming sessions.
Internet Computer (ICP) had a tough week, finishing close to breakeven and consolidating near demand zones. Despite a strong start, International Cerebrospinal Fluid It was unable to capitalize on the gains. After the previous sell-off, ICP has stabilised above support this week and improving sentiment weighting suggests a recovery is possible.
Moreover, the long-term trend remained bearish below the 200-day EMA, while the short-term trend appeared to be sideways, waiting for a decisive move. International Cerebrospinal Fluid A drop towards $10 is possible, while a drop below $6.6 could increase the selling pressure. The RSI and SMA lines are showing a flattening trend, which suggests a recovery is possible.
