Internet Protocol Price Prediction: Bullish Indicators and EMA Crossover Boost ICP

In recent trading sessions, the Internet Computer price has shown a notable uptrend on the 4-hour chart, as indicated by a series of higher closing prices, culminating at $14.459. The bullish momentum is further supported by both the 9 and 20 Exponential Moving Averages (EMAs). The 9 EMA has progressively risen from $12.904 to $13.710, while the 20 EMA climbed from $12.667 to $13.189, consistently staying below the 9 EMA, suggesting a bullish crossover and reinforcing the uptrend.

The Moving Average Convergence Divergence (MACD) values underline the increasing bullish sentiment. The MACD line has moved from 0.0639 to 0.3802, consistently above the signal line over the period, which turned positive. The histogram values, representing the difference between the MACD and its signal line, have also remained positive and are widening, indicative of strengthening bullish momentum.

The Relative Strength Index (RSI), a measure of asset momentum relative to recent price changes, has remained above the midpoint 50 level, moving from 60.37 to 67.52. This suggests that the asset is neither overbought nor oversold, but is trending towards stronger buying pressure.

Looking ahead, the immediate resistance to watch is at $14.605, followed by $14.727. A decisive break above these levels could pave the way for a move towards the $15.035 resistance. On the downside, support is found at $14.263 and $14.118, with a further safety net at $13.990. These levels should serve as critical zones where traders might consider entry or exit points. $ICP #ICP #TrendingPredictions #BullorBear
The full analysis and trade strategy were originally posted on ecoinimist.com.