Internet Computer (ICP) Falls 0.05%, Underperforms the Crypto Market Sunday

Sunday, July 17, 2022 11:13 AM | InvestorsObserver Analysts

Internet Computer (ICP) has been relatively average in terms of volatility when compared to other cryptocurrencies. So far Sunday, the Distributed Software Platform has dropped 4.83% to $7.

InvestorsObserver is giving Internet Computer a 48 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 48, placing it in the bottom 48% of cryptos on the market.

The Volatility Gauge follows this makes its score defined by recent trends, rather than a bad day. ICP's moderate volatility reading is coupled 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 trading near resistance. With support set at $6.4 and resistance near $7.18. This positions Internet Computer with potential selling pressures ahead as it may be getting over extended.

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.