Since December last year, ICP has been in a persistent downtrend, sliding from 15 USD to below 5 USD. Sellers have clearly dominated the longer-term picture.
However, after establishing April’s low, the market transitioned into a well-defined sideways range between 4.5 and 6.2 USD. This type of consolidation after a heavy decline often signals a pause – and can present trading opportunities within the boundaries.
Right now, ICPUSD is once again testing the bottom of this range near 4.5. From a tactical perspective, this creates a favorable setup: by entering long positions at the range low, we can aim for the upper boundary with a 1:3.5 risk-to-reward ratio.
Trading Plan:
• ✅ Favor long positions near 4.5 USD
• 🛑 Place a tight stop-loss just below range support
• 🎯 First target: 6.0 – 6.2 USD, the upper range resistance
Conclusion: Until ICPUSD breaks decisively below support, the range remains intact. I favor buying dips with disciplined risk management, targeting the 6 USD area for a clean swing trade setup. 🚀
However, after establishing April’s low, the market transitioned into a well-defined sideways range between 4.5 and 6.2 USD. This type of consolidation after a heavy decline often signals a pause – and can present trading opportunities within the boundaries.
Right now, ICPUSD is once again testing the bottom of this range near 4.5. From a tactical perspective, this creates a favorable setup: by entering long positions at the range low, we can aim for the upper boundary with a 1:3.5 risk-to-reward ratio.
Trading Plan:
• ✅ Favor long positions near 4.5 USD
• 🛑 Place a tight stop-loss just below range support
• 🎯 First target: 6.0 – 6.2 USD, the upper range resistance
Conclusion: Until ICPUSD breaks decisively below support, the range remains intact. I favor buying dips with disciplined risk management, targeting the 6 USD area for a clean swing trade setup. 🚀
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.