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As the price is still very bullish

, you can buy Internet Computer token on a Retracement Internet Computer Protocol token sliding after the latest gains The token is gaining popularity due to the growing prospects for web3 ICP is a buy, but investors should wait for the current retracement to settle Internet Computer Protocol ICP/USD is retracing. 24-hour losses stand at…

, you can buy Internet Computer token on a Retracement

  • Internet Computer Protocol token sliding after the latest gains
  • The token is gaining popularity due to the growing prospects for web3
  • ICP is a buy, but investors should wait for the current retracement to settle

Internet Computer Protocol ICP/USD is retracing. 24-hour losses stand at 8. 15% as investors take profits. However, that is just a correction as the token remains with a superb 24. 35% gain in the past week. The latest drop is an opportunity for buyers, with up to 40% upside potential.

While we can’t ascertain how long the improved crypto sentiment will last, ICP remains on course to $10. The latest price trends confirm that ICP has exceeded a key level. As most cryptocurrencies have risen, momentum has driven the price. The Ethereum merger has been driving tokens exposed on the web3.

ICP retreats after an impressive week with the potential to reverse at $7.0

Source – TradingView

Technically, ICP has been moving on a system of higher highs and higher lows. The weekly high for the token was $9.7. The weakly high coincided with overbought conditions as the RSI touched 72. This suggests that ICP buyers made profit at this level.

At the current price $7.7, ICP has corrected and is on its way towards $7.0 support. The token could also find support at the intersection of the moving averages. These levels could be a sign of a bullish reversal and investors should be aware. Buy trades should target $10.6 as the next resistance for ICP.

Concluding thoughts

ICP remains bullish, despite the correction. Although the token may slide further, it will be supported at $7.0. ICP buyers may consider purchasing lower because investor interest is strong. The token will find resistance slightly above $10.

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BTC slips amid poor debut for Hong Kong spot ETFs

Bitcoin fell to under $62,000 after spiking past $64,700 earlier as Hong Kong spot Bitcoin and Ethereum ETFs began trading. Data showed trading volumes hit just over $11 million, against expectations of over $3oo million. Bitcoin price fell below $62,000 again amid market reaction to less than encouraging numbers from the first day of trading…


  • Bitcoin fell to under $62,000 after spiking past $64,700 earlier as Hong Kong spot Bitcoin and Ethereum ETFs began trading.
  • Data showed trading volumes hit just over $11 million, against expectations of over $3oo million.

Bitcoin price fell below $62,000 again amid market reaction to less than encouraging numbers from the first day of trading for much hyped spot Bitcoin and Ethereum ETFs in Hong Kong.

BTC was down about 1.4% at the time of writing, having touched lows of $61,587 across major crypto exchanges.

The benchmark cryptocurrency, which has struggled to reclaim key levels since its recent halving event, was seeing a 24-hour trading volume of $28.4 billion.

Bitcoin price and Hong Kong spot ETFs debut

Earlier, Bitcoin price surged to above $64,000 as the six spot Bitcoin and spot Ethereum ETFs went live in Hong Kong.

The flagship cryptocurrency rose to over $64,727 on US-based crypto exchange Coinbase. BTC also soared after reports Hong Kong approved the listing of the ETFs.

NEW: 🇭🇰 Opening ceremony of Hong Kong spot #Bitcoin ETFs 👏 pic.twitter.com/ux1eb5PqRn

— Bitcoin Magazine (@BitcoinMagazine) April 30, 2024

However, as data streamed in showing disappointing trading volumes and inflows, Bitcoin price took a hit. According to details of the six ETFs’s debut day, total trading volume reached just $11 million, not impressive given projections were much higher at over $300 million.

Bitcoin ETFs saw about $8.5 million while Ethereum ETFs recorded just $2.5 million on the first day. Ethereum price fell to $3,040.

Notably, the figures from Hong Kong are way lower compared to those recorded amid the enthusiasm that greeted the launch of spot Bitcoin ETFs in the US in January. On their debut, the US spot BTC ETFs raked in over $4.6 billion in trading volume.

The start to trading for the ETFs has not helped BTC price and BTC could face a slide under the $60k level if sentiment flips negative. On the upside, resistance at $65k remains critical and a breakout could see the bellwether digital asset soar towards its recent peak.


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