The cryptocurrency market is recovering from the droop it suffered earlier this week.
The cryptocurrency market is buying and selling in the inexperienced zone after dropping a few of its worth earlier this week. The market has added more than 1% to its worth in the last 24 hours, however the complete market cap stays under $1.3 trillion.
Bitcoin is nonetheless struggling under the $30k mark regardless of including much less than 1% to its worth up to now at present. Ether is in the pink zone, dipping by more than 3% in the last 24 hours. At press time, ETH is struggling to remain above the $1,700 assist stage.
ICP, the native token of the Internet Computer ecosystem, is at the moment the greatest performer amongst the high 50 cryptocurrencies by market cap. ICP has outperformed the different main cryptocurrencies in the last 24 hours.
There is no obvious catalyst behind ICP’s ongoing optimistic efficiency. In the last seven days, ICP has added more than 15% to its worth.
The Internet Computer group is perhaps warming up to DFINITY’s upcoming SUPERNOVA hackathon. This is the hackathon of the Internet Computer group, and will see some nice initiatives deployed on the blockchain.
2400 devs registered at #SUPERNOVA ! Not registered but? 22 days left to affix and construct on the #InternetComputer for an opportunity to win. Sign up NOW!https://t.co/s62qWuxK8B pic.twitter.com/9zagx7cyh7
— DFINITY (@dfinity) May 30, 2022
Key ranges to observe
The ICP/USD 4-hour chart is bullish as ICP has been performing nicely over the previous few days.
The MACD line is inside the optimistic territory, indicating bullish momentum. The 14-day relative energy index of 52 reveals that ICP is not inside the oversold area.
At press time, ICP is buying and selling at $8.29 per coin. If the rally continues, ICP might transfer previous the $9.14 resistance stage earlier than the finish of the day.
However, it could want the assist of the broader crypto market to achieve the $10 mark in the quick time period.
