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ICP Price Approaches Critical Breakout Point: What to Expect?

Author: Content Editor
The price of Internet Computer (ICP) has been consolidating within a symmetrical triangle pattern, indicating a potential significant price move. Traders are watching for a breakout or breakdown soon. Technical indicators suggest a slightly bearish sentiment, with the MACD line marginally bearish and the RSI below 50. However, analyst Ragnarok has a positive outlook for ICP, with short-term price estimates ranging from $11 to $55 and concentration around $25 to $35 by the end of 2024. The analyst also predicts higher prices in the future, with estimates of $120 to $130 by May 2025 and $160 to $180 by the end of 2025. This optimism is based on expectations of increased adoption, partnerships, and technological advancements in the Internet Computer ecosystem. The price of ICP has experienced a significant decline after reaching $497.71 in May 2021. Analyst Randy Lawrence notes that the price is following a symmetrical triangle pattern, with the potential for a critical breakout. A breakdown could bring the price back to support levels at $7.5, $7.0, and $6.5, while an upward breakout could lead to a rally towards $9.5 or $10.0.

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