After being unable to re-claim the key resistance zone of $15.27-$15.94 and forming a double top, ICP declined sharply to $12.06, the key daily support.
A bullish reversal from $12.06 is likely, assuming we see back bullishness in Bitcoin, and will result in a move to re-test $13.54, however the price action may be slow and choppy.
A bearish break-out of $12.06 will push ICP price in the bearish territory and will increase probability of a deeper correction towards the key support zone at$9.66-$10.33 and, possibly, lower to $8.06.
Intraday Chart
The ICPUSDT 4-Hour chart is bearish and trading very close to the key intraday support zone at $10.62-$11.43.
(1) A rejection of $12.58 or (2) a bearish dip and a bullish rejection of $10.62-$11.43 will lead to a upward move towards $13.54 and, possibly, higher to $15.32.
A bullish break-out of $12.58 will push price to re-test $13.54 and possibly $14.43.
Support once read!
Thank you.
A bullish reversal from $12.06 is likely, assuming we see back bullishness in Bitcoin, and will result in a move to re-test $13.54, however the price action may be slow and choppy.
A bearish break-out of $12.06 will push ICP price in the bearish territory and will increase probability of a deeper correction towards the key support zone at$9.66-$10.33 and, possibly, lower to $8.06.
Intraday Chart
The ICPUSDT 4-Hour chart is bearish and trading very close to the key intraday support zone at $10.62-$11.43.
(1) A rejection of $12.58 or (2) a bearish dip and a bullish rejection of $10.62-$11.43 will lead to a upward move towards $13.54 and, possibly, higher to $15.32.
A bullish break-out of $12.58 will push price to re-test $13.54 and possibly $14.43.
Support once read!
Thank you.
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