LONG on $ICPChart Pattern:
Pennant formation here. Not a lot of chart data but almost a perfect pennant currently. Possible breakout?
Technical Indicators:
Clouds: Trading inside the cloud, could mean still bearish but the formation seems extremely bullish above.
Williams: Fractal popped up but then failed, indicating we could be going bearish , but I'm waiting to see if another set of fractals potential appear as we have had major positive price action so far, with just a small lull of a 'correction' here.
Fundamental Analysis:
Internet Computer is a new blockchain technology with fundamental breakthroughs such as orthogonal State, elimination of databases, elimination of need for VPNs, Firewalls, or cloud computing instances, as well as the ability to create hyper-speed blockchain based applications.
They have also developed a new static-typed/strong programming language called Motoko to develop these applications, but you can also use anything that can be compiled down to web assembly.
The blockchain also offers a universal identity system, the ability to deploy canisters by paying for 'cycles' via their Network Nervous system, as well as an advanced tokenomics system.
The project has been in the works for 5 years and solves many of the issues Ethereum currently has at the moment as well as being available to use now.
I believe this will be the blockchain of choice for many developers and allow for a new set of applications that were never before possible on the EVM ( Ethereum Virtual Machine).
