Internet Computer Week-Long Surge Slowly Grinds to a Halt. Key Levels to Watch

Internet computer is seeing small price decreases at this time. This comes as no surprise as the coin was climbing several resistances over the last seven days.

A look at the chart suggests that the coin has been on an uptrend following a massive decline last week Tuesday. It opened trading at $12 but dropped below $11 and hit a low of $10.7 before rebounding. It closed with losses of more than 11%.

Recovery started the next day as it opened and it climbed back to $11.9 and closed with gains exceeding 9%. Another key event took place on Sunday. It opened at $13.5 and surged to a high of  $15.3. Although is had small decreases, it ended the day with gains of more than 12%.

The bullish trend continued into the current week as the coin had one of its biggest surges. It started the day at $15 and attempted the $18 resistance. It faced massive rejection at $17.9 but closed with gains of more than 16%.

Internet Computer Flips $20

It broke $20 during the previous intraday and peaked at $20.5. It experienced strong corrections and lost half its accumulated gains. Nonetheless, it registered gained of more than 7%. This marked the start of a grinding halt of the bullish pattern.

For the first time in eight days, the coin is seeing a red candle. This comes as it retraced from $20.9 and is down by a few per cent.

A look at indicators hold mixed expectations. Nonetheless, one of the key levels to watch is the $16 support.