Internet Computer

Resistance

<ul class="list-ic vertical">
 <li><span>1</span> <a>The ICP price faces selling pressure near the resistance mark of $15.</a></li>
 <li><span>2</span> <a>Buyers are attempting for a pullback to attain a breakout soon.</a></li>
</ul>
<p>The Internet Computer token (ICP) price formed a double top pattern and is hovering near the crucial hurdle of $15, taking support on the 20-day EMA mark. The price action shows the sellers’ intention to push the token from the highs. Amidst the positive market sentiments, the token is awaiting a breakout and is holding gains decisively.</p>
<p>At press time, the Internet Computer (ICP) price was trading at $14.29 with an intraday drop of 2.25%, indicating neutrality on the charts. It has a monthly return ratio of 7.89% and 158.10% on a yearly basis. The pair of ICP/BTC is at 0.000195 BTC, and the market cap is $6.58 Billion. Analysts are neutral and suggest the ICP token price will gain momentum once it crosses the $16 mark and may reach the upside of $20 soon.</p>
<h2 class="wp-block-heading" id="strong-icp-signifies-rejection-near-17-can-bulls-attain-the-pullback-strong"><strong>ICP Signifies Rejection Near $17; Can Bulls Attain the Pullback?</strong></h2> <iframe loading="lazy" title="Santiment Chart: Price (ICP), Volume (ICP)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=internet-computer&amp;pt=ICP&amp;df=2023-11-15T00%3A00%3A00.000Z&amp;emcg=1&amp;emhwm=1&amp;wm=price_usd%3Bvolume_usd&amp;wax=0%3B1&amp;wc=%232e934a%3B%231b2f87&amp;ws=%7B%22node%22%3A%22area%22%7D%3B" scrolling="no"></iframe>
<p>The ICP token price is hovering near the $15 mark and witnessed selling pressure this week. Moreover, the price action indicates the retracement, and the token may face a follow-on selloff, which may soon lead to a bearish wave toward the $13 mark. Additionally, the declining trading volume with a price decrease signifies the negative outlook on the charts. This week, the trading volume slipped over 30% to $230.05 Million, revealing low investor interest.</p>
<h2 class="wp-block-heading" id="strong-icp-price-volatility-keeps-declining-what-does-it-mean-strong"><strong>ICP Price Volatility Keeps Declining; What Does It Mean?</strong></h2> <iframe loading="lazy" title="Santiment Chart: Price Volatility 1d (ICP), Weighted sentiment (Total) (ICP)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=internet-computer&amp;pt=ICP&amp;df=2023-11-15T00%3A00%3A00.000Z&amp;emcg=1&amp;emhwm=1&amp;wm=price_volatility_1d%3Bsentiment_volume_consumed_total&amp;wax=0%3B1&amp;wc=%23FFCB47%3B%233b6dc6&amp;ws=%7B%22node%22%3A%22area%22%7D%3B%7B%22interval%22%3A%221d%22%7D" scrolling="no"></iframe>
<p>The token witnessed a decline in the price value, and the volatility curve signifies a drop this week. However, the price action remains neutral with a steady movement and a mild decline. The volatility curve slips over by 15% to 0.014. In contrast, the total weighted sentiments indicate a positive development, and the curve reverted to a positive value of 0.443, indicating a bullish outlook for the following sessions.</p>
<h3 class="wp-block-heading" id="strong-social-dominance-and-development-activity-outlook-strong"><strong>Social Dominance and Development Activity Outlook</strong></h3> <iframe loading="lazy" title="Santiment Chart: Social Dominance (ICP), Development Activity (ICP)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=internet-computer&amp;pt=ICP&amp;df=2023-11-15T00%3A00%3A00.000Z&amp;emcg=1&amp;emhwm=1&amp;wm=social_dominance_total%3Bdev_activity&amp;wax=0%3B1&amp;wc=%23FF5B5B%3B%238358FF&amp;ws=%7B%22interval%22%3A%221d%22%7D%3B%7B%22transform%22%3A%7B%22type%22%3A%22moving_average%22%2C%22movingAverageBase%22%3A42%7D%7D" scrolling="no"></iframe>
<p>The ICP token witnessed a drop of over 40% in the social dominance data, and the curve value slipped to 0.23%; a decline in the discussions and reports on the social media platforms hints at the negative outlook. However, the development activity keeps rising, and a notable surge has led the value to a high of 70 this week. However, the intraday value was noted at 53.14.</p>
<h3 class="wp-block-heading" id="strong-what-do-rsi-market-cap-and-open-interest-oi-reflect-strong"><strong>What Do RSI, Market Cap, and Open Interest (OI) Reflect?</strong></h3> <iframe loading="lazy" title="Santiment Chart: RSI 7d (ICP), Marketcap (ICP), Total Open Interest in USD (ICP)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=internet-computer&amp;pt=ICP&amp;df=2023-11-15T00%3A00%3A00.000Z&amp;emcg=1&amp;emhwm=1&amp;wm=rsi_7d%3Bmarketcap_usd%3Btotal_open_interest&amp;wax=0%3B1%3B2&amp;wc=%23FF5B5B%3B%23FFCB47%3B%235275FF&amp;ws=%7B%22interval%22%3A%227d%22%2C%22__appliedInterval%22%3Atrue%2C%22node%22%3A%22gradientLine%22%7D%3B%3B%7B%22node%22%3A%22area%22%7D" scrolling="no"></iframe>
<p>The above data indicates a negative crossover in the relative strength index curve, and the value sinks to 60. However, it stays in the overbought zone and witnesses a neutral outlook. Meanwhile, the market cap remains at an average value of around $6.40 Billion. The Derivative data indicates an increase in open interest of over 10% to $83.78 Million, indicating a short buildup activity this week.</p>
<p>The token has a total supply of 469.21 million, and the volume-to-market cap ratio is 0.0358, whereas the global ranking is 24.</p>
<h3 class="wp-block-heading" id="strong-summary-strong"><strong>Summary</strong></h3>
<p>The <a href="https://www.thecoinrepublic.com/2024/02/27/internet-computer-the-meteoric-rise-continues-for-the-icp-coin/" target="_blank" rel="noopener noreferrer nofollow">Internet Computer</a> token (ICP) price faces rejection near the neckline hurdle of $17 and is hovering at highs. However, the trend is neutral, and indecisiveness between the bulls and bears was noted on the charts.</p>
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4>
<p><strong>Support Levels:</strong> $13.80 and $13</p>
<p><strong>Resistance Levels:</strong> $15.30 and $16</p>
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5>
<p>The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice.</p>

ICP Faces Rejection at Highs; Can Bulls Exceed the $15 Mark?

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Thecoinrepublic.com

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