After going through a dramatic period where the ICP price declined from hundreds of dollars to a low of around $28, the ICP price movement slowly began to show signs of recovery.
This is indicated by the bull trend in prices from late July to near the end of August when the price increased to around $75 before retracing to the mid-$60s range.
Cryptocurrency trading analysts try to provide their best analysis to help ICP holders make informed trading decisions. Here I will try to summarize some trading analysis regarding ICP price predictions for the future, then end with my conclusions and opinions.
Babenski
The ICP price prediction starts from the analysis by Babenski, a trading market analyst with 6,705 total followers and 13,396 total likes on his tradingview site profile.
The author, who made his last ICP prediction on August 19, 2021, said that currently, the trend of ICP is still in the testing period at the support level.
From the analysis chart described by the author, if ICP stays at the support level in the next few days, it is possible to rise quickly. On the other hand, if it is below the support level, there will be many down moments.
The support level in question is in the price range of $ 52 - $ 55 for those of you who want to try trading and investing in the short term. The current moment is very supportive for you to have the opportunity to make a profit.
Alex Ferraro
The following prediction comes from analyst Alex Ferraro. The author, who has been active since July 13, 2020, has done quite a lot of analysis on the ICP price.
His last prediction on July 25, 2021, predicts an uptrend with 5 phases. The author predicted the first and second phases with almost complete accuracy, although the range of increases is not as drastic as he described.
It is currently going through the third phase, around the end of August to mid-September 2021. In this phase, price movements are not too drastic and tend to be constant. It's a perfect time for the daily traders.
However, for those of you who want to use ICP coins for the long term, the author also predicts that there will be a gradual increase in the fourth phase, which is around September to October 2021.
As the fifth phase begins, there will be a pretty drastic bull trend, such as the transition from the first to the second.
Fiery Trading
The next ICP price prediction from Fiery Trading analyst, a trading market analysis writer, reached 16,088 reputation, 18,096 total followers, and 37,120 total likes on the tradingview site profile.
The author says that the ICP price trend, which has passed two bull flags, shows confidence that this trend will continue even to break above $100 in the next few days. But with a note, if the price of Bitcoin remains relatively stable.
My Opinion
There is still a lot of information about the future prediction of the ICP price movement. Most forecasts for the ICP price movement showed a positive bull trend for the short term.
In my personal opinion, in terms of long-term investment potential, currently, ICP coins are still in the maturity stage. If there are no significant events in the Internet Computer ecosystem soon, the price movement may be constant with a difference of at least $5 to $10.
Previously, we could see that ICP showed price movement that was independent of the other projects. This is enough to prove that ICP often has a more unpredictable price action than other cryptocurrencies heavily reliant on Bitcoin price action.
Although I have not dared to predict a drastic increase any time soon, I am pretty sure that towards the beginning of the semester, at the end of this year, the price of the ICP coin will pass through a period of bull trend slowly but surely.
- Disclaimer: The views and opinions expressed on this website are solely those of the original author and other contributors. These views and opinions do not necessarily represent those of the Dfiinty Community staff and/or any/all contributors to this site.
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