Internet Computer (ICP) Up 7.76% Saturday: What's Next?

Saturday, January 08, 2022 11:21 AM | InvestorsObserver Analysts

Internet Computer (ICP) has been relatively less volatile than the crypto market according to a recent analysis of the market. So far Saturday, the Distributed Software Platform has increased 7.76% to $32.48.

InvestorsObserver is giving Internet Computer a 24 Volatility Rank. Find out what this means to you and get the rest of the rankings on Internet Computer!

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Low Volatility

InvestorsObserver gives Internet Computer a low volatility rank of 24, placing it in the bottom 24% of cryptos on the market.

The Volatility Gauge analyzes this means that the rank represents its recent trends and isn't overly influenced by a sudden spike - or two - in volatility. ICP's low volatility reading is paired with a low reading on the Risk/Reward Gauge, meaning that the coin has relatively narrow price swings and is well protected from price manipulation.

Internet Computer price is trading near resistance. With support around $27.54 and resistance at $32.5. 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.