Internet Computer is the next smart contract platform and payment provider in the crypto world. After launching, the ICP token created a hype and became a popular coin in the crypto world.
The DFINITY Foundation is behind the Internet Computer ecosystem started in 2016 by Dominic Williams. Its aim is to create a decentralized online ecosystem for programmers, cryptographers, database experts and mathematicians.
It is a familiar network from Cardano and Ethereum that provides data and applications on the platform and manages the community with a governance system. All in all, this internet computer ecosystem can help solve blockchain problems.
Founder Dominic Williams has long-term plans to take over big companies like Amazon Web Services and Google Cloud and create a decentralized version of this cloud computing system.If you are interested in this revolutionary technology, please read here Internet Computer Price Prediction.
At the time of writing this post, the ICP was consolidated within the $3.5-$4.5 range. It is currently trading near $3.93 and could face short-term resistance if it falls to $3.5 levels.
The candlesticks are forming near the baseline of the Bollinger Bands, and the MACD and RSI are positive, suggesting short-term bullishness. It is true that the price is consolidating within the range, but now is a good time to invest in the short term and profit once the resistance is breached.
Prior to a sudden drop in November, the price was trading around $5.50. While many cryptocurrencies have rebounded in price, the ICP is trading below levels suggesting it may consolidate and break resistance to reach previous supports.
However, on the weekly chart, Internet Computers has been trending downward since the beginning of the year, forming highs and lows that suggest extreme bearishness in the long term, making it not an ideal time to invest.
Created in 2016, internet computers are not yet on the market and there are not many use cases, so the future depends on market adoption. Although you can invest short-term with a target and stop-loss, we do not recommend investing in ICPs long-term.