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Internetcomputer

(ICP) Internet Computer EOY Price TargetsDfinity’s Internet Computer (ICP) has been featured on crypto news websites more as of recently, especially after the FTX crash. There’s been rumors that they manipulated the price action of this coin because they were scared of the public finding out about its groundbreaking technology. The truth can only stay hidden for so long, it’s only a matter of time before the masses figure it out. In recent news on the ICP blockchain, the Internet Computer can now serve as a Layer 2 for Bitcoin where smart contracts on the Internet Computer coan hold, send and receive Bitcoin natively, without the need for blockchain bridges or other third parties. This provides a trust-less foundation or various DeFi and Web3 applications looking to code on the Bitcoin blockchain. This is game-changing for the industry, finally brining smart contract functionality to Bitcoin and enabling a whole new landscape of DeFi and DApp development that was previously only dreamt of. The Internet Computer’s integration with Bitcoin also provides a mmore secure alternative to centralized bridges in the form of threshold ECDSA (Elliptic Curve Digital Signature Algorithm). The implementation of ECDSA empowers the Internet Computer’s canister smart contracts, to directly conduct Bitcoin transactions without an intermediary or bridge. This provides a trust-less framework for DeFi projects that wish to use Bitcoin and doubles for ICP developers to natively code on the Bitcoin blockchain. There are now 200,000 canister smart contracts deployed on the Internet Computer. At the same time, the network is casually processing 10,000+ TX/s! This is truly an achievement showcasing the incredible ICP developer ecosystem and the scalability of the Internet Computer. Now moving into the technical analysis side of things, looking at the 12-hour chart we can see a clear pattern of capitulation, manipulation, and accumulation. This pattern was seen from $975 on ETH in the summer and this looks eerily similar for some reason. I know Vitalik has said in a small press conference with no major media outlets that Dfinity’s Internet Computer was a sister network to the gargantuan ETH blockchain, but didn’t expect the charts to coincide like that. Anyways, the capitulation period during the start of November was accelerated by the FTX crash & accompanying ripple effects, and then for the rest of the month we spent in manipulation underneath the major accumulation zone found from the lows formed in the summer (July capitulation event). From here, i’m expecting continued consolidation around this accumulation region at $4.30 - $4.60 before an eventual breakout to my (2) target profit levels: TP1 🎯 $4.99 TP2 🎯 $5.59 The first $5 level acts as this range’s EQ with the top of the EQ being TP2 @ $5.59. The accumulation zone is phenomenal for long term scooping and could potentially come out as a bottom. Although it may occur, i’m not expecting one giant candle upwards, it’s going to take some time to play out as we just 1st touch rejected off of the $4.60 level. You can zoom back in the charts and find that is the swing low from the July capitulation event. Huge level of support turned resistance that we are currently trying to breakout from. As always please do your own research, I am not a financial advisor.
Long
by kyer
Internet Computer | Looks Weak But... (70-124% Potential Growth)The Internet Computer vs Tether USD (ICPUSDT) chart looks weak, I'll give you that, but out of weakness comes strength. From small to big. We are born babies, we become children and we grow. No wait... A seed is tiny, completely sealed, it is so small. You plant the seed, water it, nourish the soil and it grows. It can turn into a huge tree, it becomes BIG yet it starts from something very small. Ok nevermind that. 10-November we have a strong reversal candle. 21-Nov. we have a lower low compared to 9-Nov. and also compared to 13-June but the volume is so much lower. You see lower support levels being hit while the bear volume continues to decrease. This is a bottom signal. The past 6 days ICP closed green. Yes, the chart looks weak but 6 consecutive green days is always positive. The charts can always change... But ICPUSDT is likely to grow in the coming days. Namaste.
Long
by MasterAnanda
23
ICP Unchained?Bearish Idea ICP looks like copying the same price action as before it did in the box labeled 1. I believe it will rise to Retest the area around 4.5-4.6. If the price got rejected from that area than we could expect more fall till to 3.5-2-1.5. Bullish Idea FTX was one of the main reason why ICP fell so much but beacuse of the late events, maybe it could be a chance ICP to get rid of it's chains. In that case, if it can break the upper trendline(the black one), then we could expect more rise up to 9.80. For the both case, I think we should wait for the comformation. Not a financial advice. I am just correcting my previous graphs.
by Dantefe
2
Falling wedgeThe falling wedge is a bullish pattern. Together with the rising wedge formation, these two create a powerful pattern that signals a change in the trend direction. In general, a falling wedge pattern is considered to be a reversal pattern, although there are examples when it facilitates a continuation of the same trend. I very often see how at the end of a pattern the smart money takes advantage of the liquidity and that's why I think it's possible to see $5 or $4.50 for ICP as there we need to have an order because the price will very quickly go down there and come back quickly
ILong
by Crypt0_Ninja