2022 has started on the right foot for Internet Computer (ICP). Although sentiment in broader crypto is still sluggish, ICP has been surging. The coin has in fact outperformed all crypto assets in the last 7 days, gaining nearly 50% in value. But where will this uptrend take it? Analysis to follow below but first, check out the highlights:
The 7-day surge has seen Internet Computer (ICP) rally 70% above its lowest price seen in December 2021.
At the time of writing, the coin was selling for $36.12, up 5% in intraday trading and with a market cap of $6.7 billion.
Internet Computer (ICP) is one of the newer blockchain projects launched in May 2021.
Data Source: Tradingview.com
Internet Computer (ICP) – Price action and analysis
The past 7 days have been bullish in every way for ICP. Every technical indicator is positive right now too. For starters, the coin has surged well beyond its 25- and 50-day moving averages.
ICP has also smashed past its $30 resistance, and current momentum will easily take it above $40 in the days ahead.
The Relative Strength Index (RSI) also shows a very positive reading. We do not see a lot of headwinds right now. Besides, as sentiment in the broader market improves, ICP is likely to also see more gains.
Why you should buy Internet Computer (ICP)
Since launching in May 2021, Internet Computer (ICP) has gone on to become one of the most valuable crypto projects in the world. The blockchain is also starting to build up its ecosystem with several high-profile DApps.
It has always been a good long-term bet, especially for the type of investor keen on alternatives to traditional blockchains. The recent 50% 7-day uptrend is the clearest indication that ICP is headed for superb returns in 2022 and beyond.