More and more cryptocurrency ICP is starting to scare its investors. First signal was given by ICP price, updating historical minimum at the beginning of December 2021. Increase in trading volume calmed market participants a little bit and created the appearance of accumulation of positions for growth. But within two months, ICP cryptocurrency updated its historical low twice. After January 21 ICP cryptocurrency stopped forming aggressive bounces upwards and lurked in narrow consolidation. What is happening in ICP market now and from what price can we expect the end of the fall?
ICP Cryptocurrency – Bottom Forming
Theoretically, ICP cryptocurrency is trying to find a bottom and round upward.
Increased trading volumes signal that a fight between buyers and sellers is beginning near important levels.
The history of ICPUSD is not very long and there is no distinct historic minimum yet, we can only guess about the bottom of ICP price and forecast several variants of price movement in the future.
Mid-term forecasts of ICP cryptocurrency price movement
- Yesterday, when the price of BTCUSDT went down, the price of ICPUSDT was holding quite well and pushing up – this is a good signal, that there are still buyers, who are interested in ICP.
- If the enthusiasm of buyers for ICP will not fade in the coming days, then from above we can meet the zone of $28-31, where sellers can aggressively activate.
If the buyers win the area of $28-31 and fix the price of ICPUSD above it, it will mean that the buyers are very strong and they managed to break the falling trend. In this case, the target for growth is up to $56-57.
- A smooth move to the right with a gradual and not sharp rise in price will round up and reverse the trend, but before mid-spring you should not expect a more or less decent price to sell your ICP.
- A price drop below $19 would mean that buyers have given up, and without a buyback, the ICPUSDT price could continue its descent, all the way down to $11 in the most negative scenario.
ICPBTC price gives hope for a positive outlook
If the price of ICP in pair with USDT managed to update the historical minimum twice in 2 months, in pair with BTC buyers confidently protected their minimum. The global chart shows that after the local rising wave, the falling wave from January 2022 looks weaker. Even the trading volumes do not help the sellers to confidently continue their trend. Last week we see that buyers managed to take the initiative. Therefore, the growth of ICPBTC price by about 80% is very probable in near future. The main parameter, which is necessary for that – keeping Bitcoin above $30000.
