Internet Computer ICP Bears Close In – Pivot Signs Emerge – Is Your Portfolio Green?

• The Internet Computer’s native cryptocurrency ICP is currently trading at a 40% discount from February highs.
• There are signs of a potential pivot in the works and ICP is now approaching an important support level.
• Recent development data reveals that Internet Computer has the highest development activity out of the top decentralized networks.

Internet Computer’s Native Crypto Discounted

The Internet Computer’s native cryptocurrency ICP has seen a significant discount since its February peak, now trading at roughly 40% below its former high. Despite this, there are signs of potential positive price action as ICP approaches an important support level.

Signs of Potential Pivot

ICP traders have observed multiple metrics which may point to the next major move. For example, its price volatility metric remains high and its social dominance metric registered its largest 4-week spike during Tuesday’s trading session, indicating that the token is still receiving decent levels of attention from investors. Additionally, the Money Flow indicator has now pivoted, confirming some accumulation within the current support range ($5 – $5.20).

Development Lead for Internet Computer

Recent development data reveals that the Internet Computer had the highest development activity out of all top decentralized networks according to ProofOfGitHub data. This could indicate incentives for bullish sentiment among investors and could contribute to future growth in price if these developments are successful.

Sentiment Remains Bearish

Despite all this positive news surrounding ICP, sentiment remains bearish due to lack of conversion to buying pressure among investors. This could be an opportunity for those who believe in ICP’s long-term potential as there may be room for growth once investor confidence returns to normal levels and buying pressure increases again.

ICP: A Token To Watch?

Given all these factors – discounted price, signs of a potential pivot, strong development lead and bearish sentiment – it appears that ICP may be one token worth watching closely in upcoming weeks and months ahead as it could provide good investment opportunities in time.