The leading cryptocurrencies, Bitcoin and Ethereum, have remained flat this week and are currently slumping. BTC is now at $44K, while ETH is at $2900. These slumps have affected the bullish sentiment of some altcoins. However, others such as Internet Computer are on the way to creating new highs after maintaining double-digit gains.
ICP is trading at $66.07 at the time of writing after a 13% gain in 24 hours
ICP Price Analysis
Internet Computer was one of the hardest-hit coins during the July 20 dip. The coin reaches an all-time low of around $23. However, it has managed to recover some of those losses following the recent market rebound that has seen many altcoins making new highs.
ICP’s volatility remains high given that that the market is still experiencing ups and downs. If it maintains the upswing created in the past 24 hours, we could see ICP heading towards the next resistance of $68. However, buyers need to rally up support for ICP to achieve its previous monthly high of $76 created during the recent rebound.
Looking at ICP’s price movements in the past month, the asset has been experiencing some dips; hence we could see the current uptrend failing, in which case ICP will go to the lower support of $62. If it dips below this level, it could trigger selloffs, especially if the broader market lacks support.
Dfinity, the company behind the ICP coins, has faced tough times, given its flopped ICP token launch in May. The ICP tokens were launched at $630, but this quickly dropped to around $22. Investors who made significant losses because of these dips filed a class-action lawsuit accusing the firm of insider trading.
However, Dfinity has since been trying to boost its reputation in the blockchain sector. Early this month, the firm announced the launch of Distrikt, a social media platform based entirely on blockchain, on the Internet Computer network.
Where to Buy ICP
If you want to buy ICP tokens, you can do so on the following exchange platforms:
One of the platforms where you can buy ICP is eToro. eToro is a renowned social copy trading platform. It supports new traders by allowing them to copy what expert traders are doing. eToro also charges low trading fees and commissions.
The other platform where you can buy ICP is CoinEx. CoinEx is also one of the largest cryptocurrency exchange platforms. It supports a wide range of cryptocurrencies and trading pairs. Its trading fees are also affordable.
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