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Weekly forecast Internet Computer technical chart

Trading suggestion:

  • By appearing primary signs of entering the market, new entry zone and short-term targets would be published.

DateMarch 19, 2023 - 13:50
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • While the price is above the support 3.355, beginning of uptrend is expected.
  • We make sure when the resistance at 7.447 breaks.
  • If the support at 3.355 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:

  • There is a divergence in RSI and price between the trough at 6.03 on 2022-05-12 and the trough at 4.6 on 2022-06-18, the probability of downtrend continuation is decreased and the probability of beginning of uptrend is increased.
  • While the RSI downtrend #2 is not broken, bearish wave in price would continue.
  • A trough is formed in daily chart at 4.525 on 03/11/2023, so more gains to resistance(s) 5.779, 6.275 and maximum to Major Resistance (7.447) is expected.
  • Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
  • Relative strength index (RSI) is 48.

Symbol Released Current Forecast
Internet Computer (ICPUSD) new Sun, 19 May 2024
Internet Computer (ICPUSD) Sat, 11 May 2024
Internet Computer (ICPUSD) Sat, 4 May 2024
Internet Computer (ICPUSD) Sun, 28 Apr 2024
Internet Computer (ICPUSD) Sun, 21 Apr 2024