Bitcoin was the most popular cryptocurrency in the world during this past 24-hour period. [BTC] The price briefly rose above $82,2k and rallied by 4.3%. The price dropped to $80k by the time this article was written.
It is likely that the Federal Reserve’s Governor Christopher Waller’s remarks muddied expectations about a rate hike.
Waller was inclined to keep interest rates unchanged at the September central bank meeting.
Internet Computer [ICP] Following the price rebound across the board, microsoft shares rose by 2.5%. ICP has risen by 27,7% since the lowest price of $1.99 on August 1st.
ICP Crypto: Can it make a comeback in the bullish direction?
Although the altcoin grew at a faster rate than BitcoinThe long-term trend of the stock has been down since April 2024. ICP has fallen 99.6% since its high point of $700 in May 2021.
Taurex reported on how ICP crypto was the most important. weakest 60 Cryptos ranked in order of performance. Each price rise is likely to result in a sale for almost every investor, as they are all facing losses.
SkyV, a crypto influencer, observed that there was a change in the cryptocurrency market. “dino coin” For months, the price of ICP had been consolidating around $2. ICP broke through its trendline support, which could open a way to $7.20.
This prolonged consolidation could produce sharp increases when capital moves from Bitcoin and altcoins.
The larger target, however, remains an arbitrary one while a number of overhead resistance levels are still intact.
The traders’ call to actions- Bullish bias in the coming week
ICP has broken the high of $2.40 in July several weeks ago, and has turned what was once a supply zone into a demand one. The 12-hour chart was bullish at the time this article was written.
Be on the lookout for resistance at $2.62. Once it is broken, the area between $2.80 and 3.20 becomes the next bullish goal.
This flipping of the $2.40 zone in the second part of August is a positive development. If Bitcoin can keep its momentum goingICP cryptocurrency is likely to also continue its bullish trend.
Final Summary
- ICP Crypto has been consolidated around $2 since February but is ready to expand.
- Although it’s shown good momentum over the past few weeks, prolonged price rallies are likely to result in profiit taking and holder exodus.
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Source: ambcrypto.com
