Internet Computer (ICP) Down 0.04% Tuesday: What's Next?

Tuesday, July 12, 2022 09:29 AM | InvestorsObserver Analysts

Internet Computer (ICP) has been relatively average in terms of volatility when compared to other cryptocurrencies. So far Tuesday, the Distributed Software Platform has dropped 3.51% to $6.54.

InvestorsObserver is giving Internet Computer a 50 Volatility Rank. Find out what this means to you and get the rest of the rankings on Internet Computer!

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Moderately Volatile

InvestorsObserver gives Internet Computer a moderate volatility rank of 50, placing it in the top 50% of cryptos on the market.

The Volatility Gauge analyzes this makes its score defined by recent trends, rather than a bad day. ICP's moderate volatility reading pairs with a low reading on the Risk/Reward Gauge, meaning that the coin has moderate price swings and is well protected from price manipulation.

Internet Computer price is in a good position going forward. With support around $6 and resistance around $6.76. This leaves Internet Computer with room to run before facing selling pressures.

What is a Coin?

A coin is a cryptocurrency that exists on its own blockchain. these are typically used for payments. Depending on the cryptocurrency, what those payments are used for may vary from general use in the Digital Money sub-class to more specific uses in some other sub-classes.