ICP Technical Analysis - Bulls Unleashed With Channel Breakout

We are here yet again to enlighten you with predictions from the Crypto community!! 

And today we present to you a technical analysis video on the ICP Token!

Internet Computer is the world's first blockchain operating at high speed on the internet with no limit to capacity. It claims to be the third major innovation in blockchain in addition to Bitcoin along with Ethereum. 

It's a blockchain computer that scales the computation of smart contracts and also data storage operates at the speed of a web browser. It processes and stores data with efficiency and offers robust software frameworks for developers.

The live ICP token price today is $37.45 with an intraday trading volume of $1,055,644,620. The coin price is up by 6.06% in the last 24 hours. With a live market cap of $7.16 Billion, the coin ranks 26th largest cryptocurrency globally.

The ICP coin price has grown almost 25% in the past three days resulting in the breakout of the falling channel pattern. Moreover, the price action approaches the resistance level at $39. Therefore, traders can shortly find the price to give a breakout entry opportunity. 

Let’s have a deepened insight into the technical analysis of ICP Token and see what the indicators have to say about it.

The ICP coin price seems to have overcome the short-term downtrend with the breakout of the falling channel. Moreover, the growth of 10% in market cap on January 9th results in the bullish engulfing candle. Therefore, a rise in trend momentum is evident by the price action.