Internet Computer (ICP) Continues Upward Trajectory With 16% Rally
29 Settembre 2024 - 10:30PM
NEWSBTC
Internet Computer (ICP) continues to impress investors as it
captures gains despite the market being down a few percent today.
According to the latest market data, the token is up 16% since last
week, a confirmation for some that ICP will continue to trend
upward in the coming days. Related Reading: XRP Set To Soar
Nearly 900% To $31, Analyst Highlights Key Resistance Despite the
market’s undeniable bullishness, a reversal might be forming in the
coming days, threatening this month’s gains. However, with
investors anticipating ‘Uptober’, there might still be room for
investors to squeeze in some gains as the month ends.
Rejection At $9.90 Might Force Investors Below $9.23 As of writing,
ICP’s upward trajectory is threatened by a rejection by the $9.90
resistance level which might force the token well below $9.23 if
the sentiment reversal continues to strengthen. Considering that
the $9.23 support level is quite weak, the bearish thesis holds a
lot of weight on the portfolios of investors. ICP’s current
trajectory started at the start of August and continued to mature
and develop over the month. Although it seems that this drive will
be continuous, experiencing only a couple of dips here and there,
the current rejection coupled with the market’s dip today, the
token might be on the path of losses in the coming days. The
relative strength index (RSI) is also signaling that ICP bulls will
hit their threshold in the coming days, which will lead to the
token suffering a pullback. If the token does not stabilize at its
current price level, ICP bears will have the momentum to break
through the $9.23 support level with $8.09 as the target. However,
if the token stabilizes it has the potential to achieve a
breakthrough on the $9.64 resistance with the target set at $11.41.
Internet Computer: Network Activity Skyrockets As Fees Surge
Token Terminal, a crypto market data aggregate, recently shared
that Internet Computer network activity over the month has surged,
leading to a surge in fees. This led to the platform beating other
L1s in the category as it reached an over 5,000% increase in the
past 30 days. BREAKING: Internet Computer has generated more fees
than @Optimism, @arbitrum, @avax, and @0xPolygon in the past 30
days. pic.twitter.com/lqaUoA5cc9 — Token Terminal (@tokenterminal)
September 24, 2024 According to the platform, the jump in activity
is due to bob.fun, a blockchain built on top of ICP that creates a
secure record book while using the underlying platform for
security. In a recent discussion at the Token2049 in
Singapore, Dominic Williams, the Founder and Chief Scientist of the
DFINITY foundation, talked about how Compute is the cornerstone of
modern society. “When you’re running software or a system on
the ICP network, it never crashes or stops running,” said
Williams. Related Reading: UNI Surges 30% Amid Ongoing
On-Chain Development Talks With the use case for ICP as a security
and compute layer, network activity on the platform may continue to
trend upward in the coming months. Featured image from
Pexels, chart from TradingView
Grafico Azioni Internet Computer (COIN:ICPUSD)
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Da Nov 2024 a Dic 2024
Grafico Azioni Internet Computer (COIN:ICPUSD)
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