Internet Computer Price Prediction: ICP Rises 35% as This GambleFi Rookie Takes the Online Casino Industry by Storm

Internet Computer prices have risen 35% in the past 24 hours, trading at $13.403 as of 5:15 a.m. ET, with volume up 375%.

In a tearful end to the year, ICP prices decoupled from the broader market trend, with the top 10 cryptocurrencies posting single-digit gains.

This surge comes as a 4-hour bullish pennant technical formation is running, with analyst @ZAYKCharts predicting a 20-30% bullish wave.

$ICP (update)

Bullish pennant occurs within 4 hours✅

20~30% bullish wave expected✍️#ICP #ICPUSDT #Cryptocurrency pic.twitter.com/QEsIwFspix

— ZAYK Charts (@ZAYKCharts) December 30, 2023

Meanwhile, a hard pump saw the Internet Protocol price break months of resistance in the space of three hours and flip the $11.612 barrier into support.

Internet Computer Pricing: Driving Force

In addition to bullish pennant runs, another driver of Internet computer prices is the broader trend of decentralization and Web3.

Discover the future of the Internet with the Internet Computer Protocol (ICP)! This groundbreaking blockchain network aims to deliver greater efficiency, speed, and decentralization through computing innovations. Learn more here: https://t.co/dBRoBQUnip

— CryptoAMG (@Cryptoholikano) December 24, 2023

As companies like Microsoft advocate for decentralization and blockchain-centric initiatives, the attention of investors and developers has shifted to platforms like ICP, which have shown interest in revolutionizing online computing in the decentralized space.

Internet Computer provides a complete technology stack for developers to build on. Online services and games can be hosted entirely on-chain without relying on a centralized cloud provider. This provides complete decentralization.#ICP #internet computer 🚀 pic.twitter.com/vDurDm1fwX

— ICP is Alien Tech (@___alien_tech) December 29, 2023

Internet Computer Price Outlook As ICP Pumps Hard

Internet computer prices boasting long green candles on a three-day basis still have some upside potential. Evidence for this is that the Relative Strength Index (RSI) is tilted northward, suggesting that buying pressure is still increasing.

Bulls have also established a dominant presence in the ICP market, as evidenced by the presence of several green histogram bars in the Awesome Oscillator (AO) and Moving Average Convergence Divergence (MACD) indicators, the volume of which continues to increase in positive territory. .

Increasing buying pressure beyond current levels could push Internet computer prices past the psychological $14,000 level. Further north, ICP price may extend towards the $15.238 resistance level. In very optimistic cases, profits could exceed the $16,000 psychological level and beyond.

However, based on the RSI position of 83, ICP is already massively overbought, meaning a correction may be in progress. Once profit booking begins, the Internet Computer price may fall and lose the $11.612 support.

As seller momentum strengthens, ICP price may expand to cross the $8.766 support and gather buy-side liquidity underneath. However, for the bullish outlook to be invalidated, the price would need to break below the $7.224 support level and close.

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