Posted 12/18/2023, 10:00:00 AM
Internet Computer Soars to New High, But Analyst Views Mixed on Sustainability of Rally
- ICP price reached a new yearly high of $11.90 on Dec 16 but has fallen since, still trading above important horizontal support
- ICP broke out above two key resistance levels (one diagonal, one horizontal) over the past two weeks
- Weekly RSI is increasing and above 50, signaling a bullish trend
- Analysts have mixed views, with some bearish short-term due to potential support breakdown, others very bullish long-term with price targets of $100 in 2024 and $1000 in 2025
- Shorter-term charts show a bullish breakout from ascending channel but also a bearish double top pattern, with key support at $8.47 that may trigger a further 20% drop if broken