Token

Internet Computer

Momentum

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>ICP price is down to the crucial support zone near $11.</a> </li> 
 <li> <span>2</span> <a>Sellers are eyeing the 200-day EMA to push the token toward the $10 mark.</a> </li> 
</ul>  
<p>The <strong>Internet Computer token (ICP) price </strong>persisted in eroding gains and has reached the make-or-break region of the 200-day EMA mark. However, the token took support on it and will likely pull back soon.</p> 
<p>For weeks, the token has traded in a downtrend and has displayed lower low swings, signifying the selling pressure. Amidst the market correction, the<strong> ICP token price</strong> dragged over by 32% last month.</p> 
<p>At press time, the <strong>Internet Computer token (ICP) price</strong> traded at $11.86 with an intraday drop of 1.26%, reflecting neutrality on the chart. It has a monthly return ratio of -12.90% and 156.29% yearly.</p> 
<p>The pair of ICP/BTC is at 0.000192 BTC, and the market cap is $5.51 Billion. Analysts are bearish and suggest that the<a href="https://www.thecoinrepublic.com/2024/03/07/icp-price-prediction-can-the-icp-price-surpass-the-17-hurdle/" target="_blank" rel="noreferrer noopener"> <strong>ICP price</strong></a> may continue to face bearishness and will hover around its 200-day EMA support mark.</p> 
<h2 class="wp-block-heading" id="strong-is-icp-ready-to-bounce-price-action-outlook-strong"><strong>Is ICP Ready to Bounce? Price Action Outlook</strong></h2> 
<p>The <strong>Internet Computer Token </strong>shows a consistent down move and is looking bearish on the charts. Meanwhile, the token may replicate a pullback, as it is holding gains at its crucial support zone of the 200-day EMA mark.</p> <iframe loading="lazy" title="Santiment Chart: Price (ICP), Volume (ICP)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=monero&amp;pt=XMR&amp;df=2023-11-14T18%3A29%3A59.690Z&amp;dt=2024-05-14T18%3A29%3A59.690Z&amp;emcg=1&amp;emhwm=1&amp;wm=%5B1%3Bprice_usd%3Binternet-computer%3BICP%5D%3B%5B1%3Bvolume_usd%3Binternet-computer%3BICP%5D&amp;wax=0%3B1&amp;wc=%23FF5B5B%3B%23FFCB47&amp;ws=%7B%22interval%22%3A%221d%22%7D%3B%7B%22interval%22%3A%221d%22%7D" scrolling="no"></iframe> 
<p class="has-text-align-center">Source: Santiment</p> 
<p>The intraday trading volume remained average and showcased a bounce of over 28.37% to $154.80 Million.&nbsp;</p> 
<p>A close and break above the $13 mark for bulls validate the significant pullback. Conversely, if the bear succeeds in breaching the 200-day EMA mark, the next stop for the token is close to $10.</p> 
<p>The Momentum Indicator (Relative Strength Index) has remained in the oversold region and made a negative crossover, highlighting the selloff over the past few sessions.</p> 
<h3 class="wp-block-heading" id="strong-what-price-volatility-and-weighted-sentiment-are-showing-strong"><strong>What Price Volatility and Weighted Sentiment are Showing?</strong></h3> 
<p>Despite the neutral price action in the intraday session, the price volatility graph noted a <strong>spike</strong>, signifying the early upmove, which might lead to a rebound in the coming sessions.</p> <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=monero&amp;pt=XMR&amp;df=2023-11-14T18%3A29%3A59.690Z&amp;dt=2024-05-14T18%3A29%3A59.690Z&amp;emcg=1&amp;emhwm=1&amp;wm=%5B1%3Bprice_volatility_1d%3Binternet-computer%3BICP%5D%3B%5B1%3Bsentiment_volume_consumed_total%3Binternet-computer%3BICP%5D&amp;wax=0%3B1&amp;wc=%23FF5B5B%3B%23FFCB47&amp;ws=%7B%22interval%22%3A%221d%22%7D%3B" scrolling="no"></iframe> 
<p>The <strong>price volatility curve </strong>noted a rise of over 12.90% to 0.016, highlighting investor speculation. Meanwhile, the <strong>weighted sentiment value </strong>sustained above the midline region, glancing at a positive outlook.</p> 
<h3 class="wp-block-heading" id="strong-what-does-the-futures-open-interest-data-indicate-strong"><strong>What Does the Futures Open Interest Data Indicate?</strong></h3> 
<p>In the intraday session, fresh short-addition activity was noted, and the open interest pumped over 7.87% to $58.83 Million.</p> 
<p>Still, sellers are willing to break the prompt support mark and show dominance.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large">
  <img loading="lazy" decoding="async" width="1024" height="246" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-166-1024x246.png" alt="" class="wp-image-205596" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-166-1024x246.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-166-300x72.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-166-768x184.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-166-750x180.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-166-1140x274.png 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-166.png 1454w" sizes="(max-width: 1024px) 100vw, 1024px">
 </figure>
</div> 
<p class="has-text-align-center">Source: coinglass</p> 
<h3 class="wp-block-heading" id="strong-sharpe-ratio-strong"><strong>Sharpe Ratio&nbsp;</strong></h3> 
<p>In the last few sessions, the value of the Sharpe ratio witnessed a notable rise. Still, the value stayed in the negative region, showcasing the underperformance of the asset.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large">
  <img loading="lazy" decoding="async" width="1024" height="516" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-165-1024x516.png" alt="" class="wp-image-205595" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-165-1024x516.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-165-300x151.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-165-768x387.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-165-1536x773.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-165-360x180.png 360w, https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-165-750x378.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-165-1140x574.png 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2024/05/image-165.png 1581w" sizes="(max-width: 1024px) 100vw, 1024px">
 </figure>
</div> 
<p class="has-text-align-center">Source: Messari</p> 
<p>The immediate support levels for the Internet Computer token (ICP) are $10.70 and $10, whereas the key upside hurdle is around $11.60, followed by $12.</p> 
<h3 class="wp-block-heading" id="strong-conclusion-strong"><strong>Conclusion</strong></h3> 
<p>The Internet Computer token (ICP) price is losing gains and has reached the bottom region of $11, a crucial support level. For bulls, to hold and revert from there is the challenge to retain the gains. Sellers are likely targeting the $10 mark short term.</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 Price Dragged To 200-Day EMA Mark: Can The Sell Off End Here?

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