FxWirePro- ICPUSD (Chart of the day)

FxWirePro- ICPUSD (Chart of the day)

The Internet Computer Protocol (ICP) is a blockchain based on threshold cryptography, state machine replication, and a novel consensus algorithm.

Smart contracts on ICP can host web assets and serve HTTP requests from users, thus fulfilling the promise of Web3.

ICP shards smart contracts over multiple instances of the blockchain. Each instance is called a subnet runs in parallel with other subnets. Each ICP subnet has a fixed public key.

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

Any daily close above $15.25 confirms further bullishness.

ICPUSD jumped nearly 80% from the low of $5.81.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 $5.50. On the lower side, the near-term support is $9.50. Any break below target $8.60/$7.

The immediate resistance stands at around $10.26. Any breach above confirms a minor pullback. A jump to $11.50/$13 is possible. A surge past $13 will take to $15.

It is good to buy on dips around $8.60 with SL around $7 for TP of $13.

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