Internet Computer’s (ICP) price broke above a descending trendline on Tuesday, gaining over 14% daily and signaling a positive move ahead.
Internet Computer price poised for a rally after breaking above descending trendline Internet Computer’s price broke above a descending trendline on Tuesday, gaining over 14% daily and signaling a positive move ahead. ICP’s on-chain metrics further support this bullish development, as rising open interest, increasing trading volume, and long-to-short ratio above one hint at an upcoming rally.
However, Wednesday’s upcoming US Consumer Price Index report could trigger volatility in the largest cryptocurrency by market capitalization. Moreover, on-chain data hints at a rally, as shown by miners’ reduced selling pressure, negative exchange flow balance, and decreasing supply on exchanges. Cautious rebound in cryptos The cryptocurrency market lost 0.5% in the last 24 hours, falling to $1.99 trillion.
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