🖥 Internet Computer ( $ICP ): AI Bubble Pressures Cryptocurrencies – What's Next?
Market Capitalization: $1.56 billion.
Internet Computer is a blockchain platform that allows running decentralized applications and services directly on the internet, without cloud providers like AWS or Google Cloud.
🟡 The project was initially positioned as a revolution in web technologies, but now finds itself under pressure from the general cooling of AI-related cryptocurrency markets.
What's happening with the AI crypto market❔
🗣Google DeepMind CEO Demis Hassabis recently sounded the alarm: certain segments of the artificial intelligence sector have entered a "bubble" phase. Startups are receiving multibillion-dollar valuations without having actual products – a classic sign of overheating.
🗣This has directly impacted AI-related cryptocurrencies. The total market capitalization of the segment has dropped to $18.7 billion. While major projects like Bittensor (TAO) and NEAR Protocol remain relatively stable, assets like ICP and Virtual Protocol (VIRTUAL) are losing up to 5% of their value daily.
What about ICP's technical levels❔
🗣ICP is trading around $3.29, down 15.17% over the week. The key support zone is at $3.20 – if it breaks, a drop to $2.80 is possible. Resistance remains in the $4.48–$7.52 range, and until price breaks through these levels, it's too early to talk about a reversal.
🗣The only ray of hope – the TD Sequential indicator showed a value of 9, which could signal exhaustion of the downtrend. But this is only potential, not a guarantee.
Trading Guidelines:📈📉
📈 Consolidation above $3.41 – possible growth to $3.65.
📉 Break below $3.26 – path to $3.17 opens.
Conclusion:
ICP is at a critical point. Watch the $3.20 level – it will determine the project's further fate.
📈 Open trade with $ICP
🔗 Chat • X • JioCoinsX