ICP: Pullback in Uptrend

The Internet Computer (ICP) technical analysis:

Trade setup: Following a bullish breakout from Sideways Channel ($3.50-$5.00), indicating bullish trend reversal, price also broke above $6 resistance with big volume, resuming Uptrend and reached our target of $7.50 where it was met by profit taking selling from traders. Pullback near $5 support could be an attractive swing entry in Uptrend.

Trend: Neutral on Short-Term basis and Uptrend on Medium- and Long-Term basis.

Momentum is Bearish (MACD Line is below MACD Signal Line, and RSI is below 45).

Support and Resistance: Nearest Support Zone is $6.00, which it broke, then $5.00 and $3.50. The nearest Resistance Zone is $7.50, then $10.00.


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