Internet Computer (ICP) is the result of a project carried out for 5 years and focuses more on the development of a decentralized ‘blockchain’ network in further developing the functions of the internet.
The project is also said to be unique because it has an independent data center network and the application can be run on its own without third party control. In contrast to the current internet where applications on the ‘server’ are mostly run by Google, Amazon and Facebook.
The development of the project was founded by Swiss company, Dfinity with support by Silicon Valley capitalists such as Andreessen-Horowitz and Polychain Capital.
Immediately after ICP was listed on the Binance platform on May 11, the price of ICP continued to make a drastic jump to the price level of $ 2,831 and continued to rank fourth based on market value (marketcap) to make it a high potential cryptocurrency.
Looking at the current movement chart of the ICP/USDT price, it seems that the ICP price continues to make a significant decline up to the support level around the $ 100 price. The decline also came as a surprise to investors about its potential.
From an all -time high (ATH) $ 2,831 continued to pass the price level when the market opened on May 11Ej around $ 250 to continue making the decline to the $ 100 price level by taking only 8 days.
The next expectation is that it is likely that the ICP price will jump again to test the SBR zone (support become resistance) around the price of $ 175. Yet to make the leap, the ICP needs positive sentiment to maintain a more stable movement.
If the ICP price movement manages to break the $ 175 SBR zone, investors will make the next SBR level around $ 220 as a focus level to test before heading to a higher price level.
If the price movement continues to make an increase, it will restore confidence to investors for the ICP price to make a higher jump and will signal for a clear trend change.
Yet if the price continues its downtrend and passes the $ 100 support level, a lower decline will occur and it is likely that it will reach the lowest price level ever recorded.
As of 10.30am local time, the ICP price is slightly down by 2% to trade at a price level of around $ 100.
