- ICP has surged 11.81% over the previous 24 hours and is buying and selling at $8.67.
- ICP worth motion has confirmed a hidden bullish divergence with the RSI.
- Analyst Javon Marks has projected ICP's long-term share worth upside of 750%.
ICP, the native token of the Web Laptop Blockchain, has been bullish over the previous 24 hours, surging 11.81% and at present buying and selling at $8.67, as the basics of the altcoin’s worth trajectory develop into extra optimistic.
Crypto analyst Javon Marks has identified a hidden bullish divergence on the ICP worth chart, signaling a attainable reversal of the cryptocurrency's trajectory. This sample, the place the worth makes decrease lows whereas the RSI makes greater lows, usually signifies growing shopping for strain. This means a rally and continuation to the “post-breakout excessive” of $20.96.
The RSI hidden bullish divergence implies that worth motion is forming decrease lows however the Relative Power Index (RSI) is forming greater lows, suggesting growing shopping for strain on the digital asset.
Marks believes ICP might see a 129% surge and doubtlessly set an much more bold goal of $79.572, including:
“If this goal is met, a 750%+ upside is feasible from right here and any pullbacks will solely assist additional beneficial properties, the one factor standing in the way in which could also be time.”
Overcoming the label of “fraud”
ICP has confronted skepticism from some within the crypto neighborhood on account of its steep worth decline since its debut in 2021. The altcoin is at present down 98.84% from its all-time excessive of $750.
Up to now 24 hours, ICP has surged from a low of $7.82 to a excessive of $9.09, with the cryptocurrency rising 19.69% previously and 24.11% previously 30 days. Moreover, the altcoin has risen 182.69% since September 2023, outperforming a number of cryptocurrencies comparable to Ether (ETH), which has risen by simply 45.13% in the identical interval.
Additionally see: AI Crypto Asset Market Cap Hits $25 Billion: Development Potential and Evaluation
However the current surge suggests renewed curiosity within the protocol's decentralized cloud computing strategy, which affords a possible various to centralized suppliers.
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