ICP Coin Price Analysis: Can the ICP Price Skyrocket Again?

• 1 The Internet Computer coin is showing a huge increase of 6.35% in the last 24 hours, trading at $6.760.
• 2 The ICP crypto is showing positive signs and could grow more.

Internet Computer operates as a decentralized web platform that aims to create a secure, trustless, and fast internet for everyone.

It uses its own token, ICP, to run and maintain its network and to reward its participants. The native token is an essential part of the Internet Computer protocol as it fuels the network operations and incentivizes the development and governance of the network.

The ICP coin is also used to pay for transaction fees, access to services, and compensate developers and validators for their work. The token has a fixed supply and is designed to be deflationary.

The ICP coin works as a stable and secure form of digital money for the Internet Computer protocol. It motivates network participants to keep providing services and upholding the network. This crypto asset is a vital part of the Internet Computer protocol and will contribute to the long-term viability and growth of the network.

The Internet Computer runs on a sovereign network of dedicated node machines, which are installed in independent data centers by independent node providers.

The network model used by the Internet Computer is called Proof-of-Useful-Work.

This network is composed of subnet blockchains, which add more capacity to the network and can host more smart contracts, computation, and data.

It also offers other unique features, such as HTTP outcalls, which allow smart contracts to securely query other systems over the web, through its network consensus system.

That makes it possible for smart contracts to securely obtain data such as crypto asset price feeds without using a trusted Oracle service.

The Internet Computer network is controlled and managed by a master subnet, which runs a permissionless DAO called the NNS.

Will the ICP Crypto Accelerate More Upwards?

Source: ICP/USD: COINBASE.1.D. by TradingView

The ICP crypto is showing a huge increase of 6.35% in the last 24 hours, trading at $6.760.

It is ready for a remarkable surge, as it gains momentum to break the resistance level and reaches new levels from the current support zone. However, if the interest for the ICP Token stays high, the asset price could recover from the current level. The next target for the ICP price is to reach $7.500.

The Internet Computer crypto asset is showing positive signs and can grow its profits. It has performed well in the past week and month, 31.96%, 57.01%, and 123.00% respectively, indicating a steady upward trend.

The ICP coin is showing bullish power and potential as it stays above major EMA’s.

If it drops below the $5.500 level, it could fall further.

Source: ICP/USD: COINBASE.1.D. by TradingView

Summary

The ICP crypto is ready for a remarkable surge, as it gains momentum to break the resistance level and reach new levels from the current support zone.

Therefore, if the interest for the ICP Token stays high, the asset price could go up from the current level. The next target for the ICP price is to reach $7.500.

Technical Levels

Support Levels: $5.500

Resistance Levels: $7.500

Disclaimer

In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.

Pratik Chadhokar

Mr. Pratik chadhokar is an Indian Forex, Cryptocurrencies and Financial Market Advisor and analyst with a background in IT and Financial market Strategist. He specialises in market strategies and technical analysis and has spent over a year as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the Financial markets.

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