As a result, on August 22, 2023, ICP hit its all-time low. A falling wedge is formed when the asset’s price makes lower highs and lower lows, but the lines converge. Consequently, it chalked out a “falling wedge” pattern on the daily chart, often seen as a signal that a trend reversal might be near. Falling Wedge & All-time Low in 2023 : It started 2023 with an uptrend, but the broader market slump propelled a downtrend.The coin settled at around $3.9 by 2022 end, further reaffirming the bearish influence. The token experienced a drastic drop from $23.5 to nearly $6 within a matter of days in May 2022. Traders use EMA to identify trends and make buy or sell decisions. Reacting to price changes is quicker than a Simple Moving Average (SMA). EMA is a moving average that prioritizes recent prices more than older ones. EMAs, or Exponential Moving Averages, indicated this trend. A Bearish 2022 : The token has been in a bearish cycle since the beginning of 2022.The initial hype was short-lived, and the price started its downtrend. Initial Spike & ATH in 2021 : ICP saw a steep spike rise right after its launch, reaching a market cap of $35.8 billion, hitting an all-time high (ATH) of over $750 on May 11, 2021.ICP token debuted on Binance, one of the best crypto exchanges, in mid-2021 and quickly ascended post-listing. Monitoring broader market trends is crucial to help investors understand ICP’s future direction. This projection factors in the blockchain market’s expected CAGR of nearly 60%, emphasizing ICP’s potential to capitalize on this growth. End of 2030: Given its long-term strategies, including Direct Ethereum Integration, ICP could escalate to $37 by 2030.These improvements aim to scale the platform and make it compatible with popular Ethereum-based tokens, thereby attracting a larger user base. End of 2025: ICP could touch $14 by the end of 2025, driven by planned upgrades like State Manager Efficiency and Chain-Key Tokens.These features aim to make the Internet Computer an accessible platform for DeFi applications. End of 2024: With key developments like direct Bitcoin integration and in-house performance tuning, ICP could reach a price of $9.5 by the end of 2024.This variation is largely influenced by market factors like a potential falling wedge breakout, the $3.4 support level, and the current ‘Fear’ sentiment in the Crypto Fear and Greed Index. End of 2023: ICP’s price is expected to range between a low of $2.7 and a high of $6.8 by the close of 2023.ICP Price Prediction 2023 to 2030 – Summaryīelow is a quick summary of the ICP price forecast from 2023 to 2030:
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