Internet Computer (ICP) Price Hits 23-Month High – Can it Breach $18 Next?

Analysis4wks agoUpdate 6086cf...
51 0

In Brief

  • Internet Computer price hit a 23-month high, crossing $17 today following a 54% rally this week.
  • The network crossed a crucial milestone, validating 3 billion blocks at a rate of 44.87 blocks per second.
  • This rally will likely sustain pushing ICP to $18 since investors are still optimistic.

The Internet Computer (ICP) price had a successful run over the past week, breaking through a crucial barrier.

But will this growth continue down the line if investors’ bullishness is lost?

Internet Computer Reaches New Milestone

The Internet Computer price rallied over the last few days as the network inched close to a new achievement. This milestone was reached during the intra-day trading hours on Monday as Internet Computer validated 3 billion blocks.

Internet Computer (ICP) Price Hits 23-Month High – Can it Breach  Next?
Internet Computer reaches 3 Billion Blocks. Source: X

This achievement came nearly three years since the launch of the protocol in May 2021, processing over 44.87 blocks per second as of date.

Read More: Internet Computer (ICP) Price Prediction 2023/2025/2030

In addition to this achievement, the altcoin is seeing considerable support from its investors who, despite the rally, are still optimistic about further increases in price. This is evinced by the weighted sentiment of ICP holders, who are exhibiting bullishness at the time of writing.

Internet Computer (ICP) Price Hits 23-Month High – Can it Breach  Next?
ICP Weighted Sentiment. Source: Santiment

Therefore, ICP price will likely see further growth, potentially even crossing the $18 mark.

ICP Price Prediction: What Comes After the 54% Rally?

The Internet Computer price rose by 54.45% in the last few days, touching $17 and shooting up from $10.91. The altcoin lived up to the prediction made by BeInCrypto, where a rally to $15 was expected before the end of the month.

Going forward, despite the massive rally, ICP will potentially stretch its uptrend a little further to tag the resistance at $18. Crossing this barrier will push the altcoin to note a 30-month high.

Internet Computer (ICP) Price Hits 23-Month High – Can it Breach  Next?
ICP/USDT 12-hour chart. Source: TradingView

However, the ICP price will face resistance in closing above the $17 resistance bar. The cryptocurrency has failed to do so in the past once, and another instance will likely result in some corrections.

Read More: Internet Computer (ICP) Coin Explainer for Beginners

ICP might thus witness a drawdown to $15.34 while the market cools down, potentially invalidating the bullish thesis.

This article is sourced from the internet: Internet Computer (ICP) Price Hits 23-Month High – Can it Breach $18 Next?

Related: Trading Veteran Explains Bitcoin Price Prediction: $150,000, $275,000 & $400,000

In Brief Trading veteran Peter Brandt forecasts Bitcoin could reach up to $400,000, linking its potential to halving events. Recent surge to $64,300 underscores demand, with significant capital inflow and increased holdings by large entities. Despite cautionary indicators, the bullish sentiment prevails due to Bitcoin’s historical resilience and growth potential. As the cryptocurrency market continues to evolve, Bitcoin remains at the forefront of investor interest. This is supported by its recent price performance, surpassing $60,000. In a detailed analysis, trading veteran Peter Brandt has provided a compelling forecast for Bitcoin’s price trajectory. He linked its potential to the cryptocurrency’s halving events. This is a mechanism that cuts the reward for mining new blocks in half. Consequently, it reduces the supply of new BTC and often triggering a price surge. Bitcoin…


© Copyright Notice

Related articles

No comments

You must be logged in to leave a comment!
Login immediately
No comments...