Summary
TLDR: The Internet Computer (ICP) price has been consolidating and is set to hit $15 before the end of the month, with bullish signals from the RSI and Ichimoku Cloud. However, lack of investor confidence may lead to a potential drawdown if the funding rate turns negative.
Key Points
1. The Internet Computer (ICP) price has been consolidated since the beginning of the year, and the recent recovery is set to continue this consolidation. This indicates that the altcoin will likely hit $15 before the end of the month.
2. The Relative Strength Index (RSI) for ICP is back above the neutral line of 50.0 after falling into the bearish zone for the first time since October 2023. This is a bullish signal, suggesting a further rise in the price of Internet Computer.
3. Despite the bullish signals, lack of optimism from investors is evident, as seen in the Funding Rate at a multi-month low. A negative funding rate could lead to a potential drawdown, invalidating the bullish thesis and pulling ICP down to $10.97.