After selling off in the last 24 hours, Internet Computer (ICP) bulls have been able to turn around the downward trend. Due to this bullish dominance, ICP recently hit a high of $5.42 during the day.
At the time this was written, ICP was trading at $5.42, which was a gain of 5.76%.
The market capitalization has gone up by 4.04 percent, to $1,436,110,248, and trading volume has gone up by more than 70.12 percent, to $63,518,428. Both of these things are good signs for the stock market.
ICP/USD price chart for 24 hours (Source: CoinMarketCap)
On the 4-hour price chart, the Keltner Channel bands are getting wider, which shows that the market is becoming more volatile. The upper and lower bands touch at 5.51 and 4.87. The ICP price is getting close to the top band, which shows that it will keep going up.
The Relative Strength Index (RSI) shows a value of 61.93 and an upward trend. This rise in the RSI score is a clear sign of a bullish trendline because the price is neither too low nor too high.
At 66.67, the Stoch RSI shows that the market will keep going in a good direction. The ICP price can still go up because the indicator signal is neither too high nor too low.
ICP/USD Price Chart for 4 Hours (Source: CoinMarketCap)
The On Balance Volume (OBV) and price are making bigger peaks and valleys, which suggests that the price will likely keep going up. The OBV is -51.81M and going up, which shows that buyers are coming in to back up this bullish trend.
With a reading of -0.00, the MACD blue line changes direction and soars over the signal line, showing a bullish crossover.
ICP/USD Price Chart for 4 Hours (Source: CoinMarketCap)
If the market’s positive trend is to continue, bulls must fight to keep the resistance level and prices from falling.
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