FxWirePro- ICPUSD (Chart of the day)

The Internet Computer (IC) is a new platform for executing smart contracts. The Internet Computer (ICP) allows Web3 services to run 100% on-chain, being the only protocol on top of which developers can build and users can enjoy fully decentralized applications. It adds autonomous serverless cloud functionality to the public internet.

ICPUSD was one of the best performers in the past two days.

Any daily close above $15.25 confirms further bullishness.

ICPUSD  jumped more than 30% from the low of $10.56.The pair holds well above the short-term (21 and 55 EMA) and long-term moving average. It hit a high of $13.79 and is currently trading around $13.39.

The bullish invalidation can happen if the pair closes below $8.50. On the lower side, the near-term support is $12.50. Any break below targets $10/$8.50. Significant downtrend if it breaks $5.30.

The immediate resistance stands at around $17. Any breach above confirms a minor pullback. A jump to $20/$23.50 is possible. A surge past $23.50 will take to $37.75.

It is good to buy on dips around $12.50 with SL around $8.50 for TP of $23.50.