⚡️ ICP Bulls To Propel Price to $10: Here Are the Hurdles
The Internet Computer (#ICP ) token price saw a massive pullback from its 52-week low mark of $6. It revived over 60% in the last two weeks. Meanwhile, the token price reached its make-or-break hurdle of $10, the 200-day EMA zone.
The buyers have undoubtedly bought the dips and accumulated the token from its base, but it has reached its reversal zone, and a rejection could occur from there.
The short-term leading indicators did not favor straightforward buying traction and suggested a slight dip might soon be possible.
The ICP token was comfortably placed above the 20-day and 50-day EMAs, signifying the strength. However, it reached its pivot hurdle of 200-day EMA, and a probability of rejection was on the horizon.
The bears grabbed their positions around the $10 mark at press time and were waiting for the opportunity for a turnaround to trap the mighty bulls.
🔸 The ICP Price at Press Time
At press time, the ICP price traded at $9.96 with an intraday surge of 1.36%, reflecting neutrality on the charts. It has a monthly return ratio of 10.20% and 140.20% yearly, reflecting a short-term uptrend.
The pair of ICP/BTC was at 0.000153 BTC, and the market cap was $4.65 Billion. Analysts were neutral and suggested that the ICP price may gain momentum once it closes above the $12 mark.
In terms of market cap, ICP ranked 26th at the time of writing and had a total supply of 521.20 Million, while the volume-to-market cap was 0.0326.
🔸 Can the ICP Price Cross the 200-day EMA?
The ICP price recently breached its downward trendline hurdle of $9 and gained a bullish swing. However, it still failed to overtake the cluster of $10, where the 100-day and 200-day EMAs were placed.
Javon Marks tweeted that ICP has gained bullish momentum and could continue the upsurge.
Currently prices of Internet Computer (ICP) are springing back majorly here with significant bullish action and they may be in the early stages of a massive continuation towards the $79.572 breakout target!
