The cryptocurrency market is recovering from the stoop it suffered earlier this week.
The cryptocurrency market is buying and selling in the inexperienced zone after dropping a few of its worth earlier this week. The market has added more than 1% to its worth in the last 24 hours, however the whole market cap stays beneath $1.3 trillion.
Bitcoin is nonetheless struggling beneath the $30k mark regardless of including much less than 1% to its worth up to now at this time. Ether is in the purple zone, dipping by more than 3% in the last 24 hours. At press time, ETH is struggling to remain above the $1,700 assist stage.
ICP, the native token of the Internet Computer ecosystem, is at present the finest performer amongst the prime 50 cryptocurrencies by market cap. ICP has outperformed the different main cryptocurrencies in the last 24 hours.
There is no obvious catalyst behind ICP’s ongoing optimistic efficiency. In the last seven days, ICP has added more than 15% to its worth.
The Internet Computer neighborhood is likely to be warming up to DFINITY’s upcoming SUPERNOVA hackathon. This is the hackathon of the Internet Computer neighborhood, and will see some nice tasks deployed on the blockchain.
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— DFINITY (@dfinity) May 30, 2022
Key ranges to look at
The ICP/USD 4-hour chart is bullish as ICP has been performing effectively over the previous few days.
The MACD line is inside the optimistic territory, indicating bullish momentum. The 14-day relative power index of 52 reveals that ICP is not inside the oversold area.
At press time, ICP is buying and selling at $8.29 per coin. If the rally continues, ICP might transfer previous the $9.14 resistance stage earlier than the finish of the day.
However, it could want the assist of the broader crypto market to succeed in the $10 mark in the brief time period.