ICP is currently at $3.488, following a significant price correction from the November high of $9.62, primarily due to the weakening of AI hype factors. Although Bitcoin is trading at a very high level ($92048.98), indicating a macro optimistic cryptocurrency market, ICP shows quite negative short-term technical signals, with prices below important EMA lines and MACD in a neutral to bearish state. However, on-chain data is very positive, showing accumulation activity from whales and dolphins, along with an increase in active addresses and net outflows from exchanges. Notably, recent news announced major partnerships with Microsoft, Google, and SWIFT, along with the launch of Internet Identity 2.0 and ICP 2.0 with improvements in AI and interoperability (Chain Fusion). This suggests strong long-term growth potential, but prices need time to absorb positive news and find solid technical support. Therefore, the overall signal is NEUTRAL (Waiting) in the short term, but it could be an accumulation opportunity for long-term investors.
• The price of ICP has recently undergone a significant correction (down 64% from the November peak), bringing it to an important support level of $3.40.
• Short-term technical indicators (EMA) indicate ongoing bearish pressure, with prices below key moving averages.
• However, on-chain data shows strong accumulation activity from whales and an increase in active addresses, reflecting confidence from major investors.
• Recent news has been extremely positive, including strategic partnerships with tech giants (Microsoft, Google, SWIFT) and significant technological upgrades (ICP 2.0, Internet Identity 2.0, Chain Fusion), indicating strong long-term growth potential.
• With the price of Bitcoin at a high ($92048.98), the overall cryptocurrency market remains optimistic, which could provide momentum for ICP's recovery as the fundamentals are absorbed.
• A NEUTRAL signal has been issued due to the conflict between short-term technical factors (negative) and long-term fundamental/on-chain factors (very positive), requiring more time for the trend to become clearer.
