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Internet Computer Price is up 35% in the last 24 hours to trade for $13.403 as of 5:15 a.m. EST, with trading volume rising 375%.
Closing the year on a tear, ICP price has decoupled from the broader market trend, with the crypto top ten recording single-digit gains.
The surge comes in the execution of a bullish pennant technical formation on the four-hour timeframe, with analyst @ZAYKCharts anticipating a 20-30% bullish wave.
$ICP (Update)
Bullish Pennant Breaking out in 4H Timeframe✅
Expecting 20-30% Bullish Wave✍️#ICP #ICPUSDT #Crypto pic.twitter.com/QEsIwFspix
— ZAYK Charts (@ZAYKCharts) December 30, 2023
Meanwhile, the hard pump has seen the Internet Protocol price shatter a multi-month resistance on the three-hour timeframe, flipping the $11.612 barricade into support.
Internet Computer Price: Driving Force
Beyond the execution of the bullish pennant, another driving force for Internet Computer prices is the extensive trends in decentralization and Web3.
Discover the future of the internet with the Internet Computer Protocol (ICP)! This groundbreaking blockchain network aims to revolutionize computing, offering higher efficiency, speed, and decentralization. Learn more here: https://t.co/dBRoBQUnip
— CryptoAMG (@Cryptoholikano) December 24, 2023
With companies such as Microsoft advocating for decentralized and blockchain-oriented initiatives, investor and developer attention shifts to platforms such as ICP, which have demonstrated an interest in revolutionizing online computing in a decentralized space.
The Internet Computer provides a complete tech stack for developers to build on. It can host online services and games fully on chain without ever relying on centralized cloud providers. This provides complete decentralization.#ICP #InternetComputer 🚀 pic.twitter.com/vDurDm1fwX
— ICP is alien tech ∞ (@___alien_tech) December 29, 2023
Internet Computer Price Outlook As ICP Pumps Hard
Boasting a long green candlestick on the three-day timeframe, Internet Computer price still has some upside potential. Evidence of this is the inclination of the Relative Strength Index (RSI) to the north, suggesting buying pressure is still rising.
The bulls have also established a dominant presence in the ICP market, as indicated by the presence of multiple green histogram bars of the Awesome Oscillator (AO) and the Moving Average Convergence Divergence (MACD) indicators, whose volumes continue to rise in the positive territory.
Increased buying pressure above current levels could see Internet Computer prices foray past the $14.000 psychological level. Further north, the gains could see the ICP price extend to tag the $15.238 resistance level. In a highly bullish case, the gains could extrapolate past the $16.000 psychological level or higher.
However, based on the RSI position at 83, ICP is already massively overbought, which means a correction may be underway. If profit booking kicks off, Internet Computer prices could pull south, losing the $11.612 support.
Enhanced seller momentum could see ICP price extend, slipping past the $8.766 support to collect the buy-side liquidity that resides underneath. For the bullish outlook to be invalidated, however, the price must break and close below the $7.224 support level.
Meanwhile, attention has shifted to Telegram Casino projects, with TGC taking the stage as analysts’ top pick for the best crypto ICO with the potential for high returns in 2024.
Promising Alternative To ICP
TGC is the native crypto for the TG.Casino ecosystem, an exclusive place for online crypto gambling. It is more than just a casino, presenting itself as an ecosystem giving back to its players through constant rewards by leveraging $TGC. Notably, the project’s presale ended with a $5 million raise days ago.
$TGC The project of 2024 have completed the first mission:
Reaching 5,000,000$ for the presale.
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— Little Mustacho 🥷🏾 (@littlemustacho) December 21, 2023
With this close, TG.Casino will be launching on January 4, 2024. Refer your friends for a 10% commission on all invited referrals.
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— TG Casino (@TGCasino_) December 27, 2023
The project has a 10,000 TGC giveaway, which is still open until the launch date. To enter, join the community before January 4 in a simple three-step process.
It’s giveaway time here at TG Casino🎰
We’re giving away 10k $TGC tokens provided by 2 amazing community members🃏
10 prizes of 1000 tokens each are being given away!
How to enter:
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3⃣ RT the postEnds 4 Jan 2024⏰ pic.twitter.com/ueZZZZlLwb
— TG Casino (@TGCasino_) December 28, 2023
Beat the launch date to start the year with the best foot forward.
The 4th of January draws closer and we can’t wait to finally launch $TGC 🎰
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— TG Casino (@TGCasino_) December 30, 2023
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