The Internet Computer (ICP) price has recently drawn attention, reflecting a stable, moderate positive user interest shown by the OI-Weighted Funding Rate. Despite a consistent decline in the RSI 7D over three weeks—suggesting a vibrant buying ecosystem yet a potential drop in interest.
However, this bullish trend may soon shift. Remarkably, ICP has surged 38.68% over the past month, with an astonishing 45.60% increase in just two days. However, EMA lines could soon shift price sentiment.
RSI Has Been Declining
ICP price grew from $10.79 on March 20 to $20.59 on March 27, a 90.82% growth. It’s interesting to note that RSI 7D was around 73 and 74 during that same period.
The Relative Strength Index (RSI) is a momentum oscillator that measures the speed and change of price movements, ranging from 0 to 100. Typically, an RSI above 70 indicates an asset is overbought and could be primed for a price correction, whereas an RSI below 30 suggests it is oversold and potentially undervalued.
For Internet Computer (ICP), the RSI 7D stood around 86 in the first half of March, signaling strong buyer interest and
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Author: Tiago Amaral
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