ICP- My 22+ target should become in play

Mihai_Iacob Updated   
As you may recall from my previous posts, I hold a very bullish outlook on ICPUSDT and have elaborated on the reasons why. If the price manages to maintain itself above the $10 mark, the most probable scenario would involve a new upward movement towards the $20-22 resistance zone.

Indeed, ICP reversed just below the $10 mark and began to establish higher lows in the weeks following the correction. As I mentioned in a post two days ago, TOTAL3 successfully broke (as anticipated) above $500B, providing confirmation for a new upward movement in altcoins.

Technically speaking, in the case of ICP, we observe a clear support level at $10 and a sequence of three higher lows. Additionally, the price action in 2024 resembles that of a symmetrical triangle, a pattern that typically indicates an upward continuation.

A break above the $13 zone would confirm the bullish scenario, with the target being the $20+ resistance zone. However, negation of this bullish outlook would occur with a break below the $11 zone. From a risk-to-reward perspective, such a trade could potentially offer more than a 1:4 risk-to-reward ratio.

After a period of consolidation in which ICP bulls hold ground very well, finally the price broke up above 14usd resistance zone

🚀 Elevate your trades with a 20-year market veteran!

📈 Forex & XAU/USD Channel:

💎 Crypto Channel:

🌟 Premium Contact:

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.