- Internet Computer price prediction revealed a possible bull run in the coming days.
- But the fear and greed index hit the “greed” stage.
Internet Computer [ICP] showcased commendable performance in the last 24 hours as the token’s price surged in double digits. Therefore, AMBCrypto planned to take a closer look at the token’s state for ICP price prediction.
ICP’s latest bull move
As per CoinMarketCap, ICP registered a massive bull rally as the bulls pushed the token’s price up by more than 13% in the last 24 hours. At the time of writing, ICP was trading at $8.71 with a market capitalization of over $4 billion, making it the 21st largest crypto.
The good news was that the token’s trading volume also surged substantially along with its price, acting as a foundation for the price uptick.
Thanks to the price rise, the token’s social metrics also improved.
For instance, AMBCrypto’s analysis of Santiment’s data revealed a spike in Internet Computer’s weighted sentiment. This meant that bullish sentiment around the token increased.
Moreover, its social volume also spiked, reflecting a hike in the token’s popularity in the crypto space.
Source:Santiment
However, while the market sentiment turned bullish, a major metric turned in the bears’ favor. As we looked at Coinglass’ data, ICP’s long/short ratio dropped substantially.
This meant that there were more short positions in the market than long positions, suggesting a bearish edge in the market. Apart from that, ICP’s fear and greed index was in a greed position at press time.
Whenever the metric hits this level, it indicates that there are chances of a price correction.
Source: CFGI.io
ICP price prediction shows…
AMBCrypto then checked Hyblock Capital’s data to find short-term targets for Internet Computer price prediction. In the immediate future, if the bulls continue to dominate, then it’ll be crucial for ICP to cross the $9.4 barrier.
This was the case, as liquidation will rise at that mark, which can result in a price correction. However, a price drop could push ICP down to $6.9.
Source: Hyblock Capital
Mentioning the technical indicators, the MACD displayed a bullish advantage in the market.
Read Internet Computer’s [ICP] Price Prediction 2024-25
The Money Flow Index (MFI) also registered a sharp uptick hinting at a further price rise.
If Internet Computer’s long term price prediction is to be considered, then a continued price rise would allow the token to reclaim $10. A slip above that would allow ICP to eye $19 again in the coming weeks or months.
Source: TradingView
