Internet Computer ICP price has a chance to "get off its knees"?When will the ICP price finally come to life?
Many investors are probably asking themselves this question, because since the listing of the ICPUSDT pair, its price has been falling all the time, from $600+ to the current $4
The team chose a bad time for listing, at the peak of 2021, and since then the cryptocurrency market was captured by a protracted downward trend.
We have neither the desire nor the technical knowledge to delve into the fundamentals of the project, but we can share our thoughts on what we saw on the chart.
For almost a year now, there has been a prolonged consolidation in the range of $3.30-8.30 . Consolidations usually involve a set of positions (both longs and shorts), and given that it is not too far from the current price to "zero", we can assume that a large long is being taken.
It can also be assumed that a global Double Bottom pattern is forming, with a 1st global target of $17 , but this will clearly not happen soon.
If you believe in the bright future of the Internet Computer project, then you can buy ICP for your investment portfolio.
Conservative entry long above $7
Entering the long at a price below $7 is a great risk of getting stuck with a deposit in consolidation for months. In addition, the price of ICP can also easily update the minimum.
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