Internet Computer

Resistance

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/internet-computer-icp-encounters-resistance-in-supply-zone-during-market-recovery" rel="noopener noreferrer nofollow">Internet Computer (ICP) Encounters Resistance in Supply Zone During Market Recovery</a><br></p>
<p style="text-align: justify">The <a href="https://en.bitcoinhaber.net/experts-insight-crafting-a-winning-altcoin-portfolio" rel="noopener noreferrer nofollow">cryptocurrency</a> Internet Computer (ICP) experienced a significant recovery rally on January 23, with its price surging by 30% from $9.52, signaling a potential V-shaped recovery. Despite this positive trend, ICP faced resistance within a supply zone ranging from $12.01 to $14.43, which could impede its upward momentum.</p>
<h2 id="supply-zone-dynamics-and-icp-s-price-trajectory">Supply Zone Dynamics and ICP’s Price Trajectory</h2>
<p style="text-align: justify">The Relative Strength Index (RSI) remains above 50, suggesting a growing momentum for ICP. If the buying pressure continues, ICP could challenge the midpoint of the supply zone at $13.22. A decisive break above this level may confirm a sustained uptrend for the altcoin.</p>
<p style="text-align: justify">For ICP to maintain its upward trajectory, it must overcome the supply zone’s resistance. If successful, the next resistance at $15.33 could become a new support level, further cementing the coin’s recovery.</p>
<p style="text-align: justify">In an optimistic scenario, ICP could reach $16.30, a price last seen on January 3, marking over a 30% increase from current levels. This would represent a significant achievement in its recovery.</p>
<p style="text-align: justify">On the flip side, if ICP faces rejection at the supply zone, it might trigger a pullback, potentially retesting the $10 mark. A more severe decline could see the price fall to the $8.79 support level, a 30% drop from its current standing.</p>
<p style="text-align: justify">The current situation places ICP at a crossroads, with the supply zone playing a pivotal role in determining its next move. Investors are advised to monitor the RSI for momentum indicators and prepare for either a breakout or a pullback, as these will be critical in shaping ICP’s market strategy.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/internet-computer-icp-encounters-resistance-in-supply-zone-during-market-recovery" rel="noopener noreferrer nofollow">Internet Computer (ICP) Encounters Resistance in Supply Zone During Market Recovery</a></h5>

Internet Computer (ICP) Encounters Resistance in Supply Zone During Market Recovery

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