Internet Computer Protocol (ICPUSD) Hits Milestone with $123.41M TVL

Internet Computer Protocol hits a milestone with $123.41M TVL as the future looks bright. The Internet Computer Protocol (ICP) has reached a significant achievement, with its Total Value Locked (TVL) soaring by 458.4% since the start of the year. This surge reflects the growing demand and confidence in the protocol.

BREAKING NEWS🚀
The #TVL on #ICP just reached an all time high 📈according to @DefiLlama !!! The TVL is now sitting at $123.41m💰 and is 458.4% up🚀💣from the beginning of the year.

Meanwhile, most Investors are still bored…🥱 pic.twitter.com/ykEKHNptvd

— Fabio (@Zero2HeroZombie) August 17, 2024

Analysts have further fueled optimism by predicting that ICP could experience a 500% rise in value over the next year. This combination of rising TVL and favorable market forecasts suggests that ICP is on track for substantial growth, solidifying its position as a key player in the expanding DeFi ecosystem.

Key Internet Computer Levels To Watch – August 18

ICP/USD is forming a bullish breakout pattern, breaking out of a triangle formation around the $7.200 level. The price has held above the support zone near $6.270, confirming a strong base. Stochastic RSI has crossed upwards from the oversold region, indicating potential bullish momentum.

The next resistance zone is around $10.980, with a target extension towards $13.000 if momentum continues. The 9-day SMA has slightly turned upwards, aligning with the bullish narrative. A sustained break above $10.980 could trigger a larger move towards higher levels.

ICPUSD Key Levels

Resistance levels: $10.980, $13.000, $16.280
Support levels: $6.270, $4.960, $2.880

ICPUSD Metrics

Total Market Capitalization: $2.11T 
Internet Computer Market Capitalization: $3.41B
Internet Computer Volume: $50.60M
Market Rank: #24

Make money without lifting your fingers: Start using a world-class auto trading solution