Internet Computer is Trading -7.92% Below Our Price Prediction for Mar 01, 2023

Disclaimer: This is not investment advice. The information provided is for general purposes only. No information, materials, services and other content provided on this page constitute a solicitation, recommendation, endorsement, or any financial, investment, or other advice. Seek independent professional consultation in the form of legal, financial, and fiscal advice before making any investment decision.

• Internet Computer is down -3.10% today against the US Dollar
• ICP/ETH decreased by -2.08% today
• Internet Computer is currently trading 7.92% below our prediction on Mar 01, 2023
• Internet Computer gained 17.62% in the last month and is down -56.69% since 1 year ago

ICP price is expected to rise by 8.60% in the next 5 days according to our Internet Computer price prediction

Internet Computer price today is trading at $ 6.65 after losing -3.10% in the last 24 hours. The coin underperformed the cryptocurrency market, as the total crypto market cap decreased by -1.90% in the same time period. ICP performed poorly against BTC today and recorded a -1.25% loss against the world’s largest cryptocurrency.

According to our Internet Computer price prediction, ICP is expected to reach a price of $ 7.22 by Mar 01, 2023. This would represent a 8.60% price increase for ICP in the next 5 days.

ICP Price Prediction Chart

Buy/Sell Internet Computer

What has been going on with Internet Computer in the last 30 days

Internet Computer has been displaying a positive trend recently, as the coin gained 17.62% in the last 30-days. The medium-term trend for Internet Computer has been bullish, with ICP increasing by 65.20% in the last 3 months. The long-term picture for Internet Computer has been negative, as ICP is currently displaying a -56.69% 1-year price change. On this day last year, ICP was trading at $ 15.34.

Internet Computer reached its all-time high price on May 10, 2021, when the price of ICP peaked at $ 497.71. The current ICP cycle high is $ 8.12, while the cycle low is at $ 3.40. ICP has been displaying high volatility recently – the 1-month volatility of the coin is at 10.50. Internet Computer recorded 15 green days in the last 30 days.

Internet Computer technical analysis for today - Feb 24, 2023

The sentiment in the Internet Computer markets is currently Bearish, and the Fear & Greed index is reading Neutral. The most important support levels to watch are $ 6.55, $ 6.43 and $ 6.23, while $ 6.87, $ 7.07 and $ 7.19 are the key resistance levels.

Bearish sentiment for Internet Computer

10 indicators are currently signaling a bullish prediction for Internet Computer, while 15 indicators are showing a bearish forecast. With 60% of indicators favoring a negative prediction. This results in an overall Bearish sentiment for Internet Computer.

Crypto market is currently experiencing Neutral

Currently, the Fear & Greed index is at 53 (Neutral), which signals that investors have a neutral outlook on the market. The Fear & Greed index is a measure of sentiment among cryptocurrency investors. A “Greed” reading suggests that investors are currently optimistic about the cryptocurrency market, but can also be an indication that the market is overvalued. A “Fear” reading, on the other hand, signals that investors are currently hesitant about the cryptocurrency market, which potentially represents a buying opportunity.

Internet Computer moving averages & oscillators

Let’s take a look at what some of the most important technical indicators are signaling. We’ll be going through key moving averages and oscillators that will allow us to get a better idea of how Internet Computer is positioned in the market right now.

The Relative Strength Index (RSI 14) is a widely used indicator that helps inform investors whether an asset is currently overbought or oversold. The RSI 14 for Internet Computer is at 59.03, suggesting that ICP is currently neutral.

The 50-day Simple Moving Average (SMA 50) takes into account the closing price of Internet Computer over the last 50 days. Currently, Internet Computer is trading below the SMA 50 trendline, which is a bearish signal.

Meanwhile, the 200-day Simple Moving Average (SMA 200) is a long-term trendline that’s calculated by taking an average of the ICP closing price for the last 200 days. ICP is now trading below the SMA 200, signaling that the market is currently bearish.

The bottom line about this Internet Computer prediction

After considering the above factors, we can conclude that the current forecast for Internet Computer price prediction is Bearish. ICP would have to increase by 8.60% to hit our $ 7.22 target within the next five days. Moving forward, it will be important to monitor the ICP market sentiment, the key support and resistance levels, and other metrics. However, we have to keep in mind that the cryptocurrency markets are unpredictable, and even the largest crypto assets display a lot of price volatility. For long-term Internet Computer price predictions click here.

Disclaimer: This is not investment advice. The information provided is for general purposes only. No information, materials, services and other content provided on this page constitute a solicitation, recommendation, endorsement, or any financial, investment, or other advice. Seek independent professional consultation in the form of legal, financial, and fiscal advice before making any investment decision.

by coincodex