I've seen this formation occur many times. If the pennant formation occurs, it will move at least the width of the pennant in the positive vertical direction.
Watching ICP charts for a while I have noticed it often likes to break upward from descending wedges. We may be in one now and see a shot upward in the coming days. but, unless we hold this area and break back above $12.20 we are still in a downtrend seeing lower highs and lower lows. If we fall below $9.50 I think we are likely heading to $6.20 support.
IMHO
IF ICP gets to what Solana MC was last cycle top aka 77B, its going be worth 170 dollars.
Plot twist, half of the ICP supply is currently staked/locked or in other words can not be sold. Second plot twist with all of the wall street money coming in crypto this cycle, what if the total MC surprises everyone and gets to something crazy like FWB:14T ? Im just...
Well, should have saw it coming. Greed factor was too high across crypto.
Hopefull this is it for now.
Bullish divergence in purple
Double bottom dotted green
Self Explanatory.
Not investment advice.
It looks as if this clown has bottomed out the internet computer.
This is an insane deal.
I believe ICP will be a top 5 or 3 player as far as MC down the road.
Very low circulating supply.
Not investment advice.
Sigh,
Finishing a brutal broadening pattern and we are bouncing off a newly discovered trend line.
Well the good news is ahead of us, try not to dwell on the past.
Let's see where this takes us.
Long term this chart looks amazing.
This is what CRYPTOCAP:ICP looks on the weekly time frame. PA has made it's way to EQ and now it's in the process of filling in the gap near the demand zone. You will get one last chance to fill you bags before take off.
Hi Traders
ICPUSD (Daily Timeframe)
A high probability, entry signal to go LONG will be given with the upward break of 14.34 after the market found support at 10.37. Only the downward break of 10.37 would cancel the bullish scenario.
Trade details
Entry: 14.34
Stop loss: 10.37
Take profit 1: 19.98
Take profit 2: 25.90
Score: 8
Strategy: Bullish wave We2
I calculated and showed on the graph how much you would earn after 10 years of ICP staking.
That is only if you stake icp and lock it for 8 years, and enable the option to restake maturity.
After 10 years you can disable the option to restake and then you get the amount noted in the graph/month and per icp you buy now (2024).
As you may have observed, I am optimistic about BINANCE:ICPUSD for numerous fundamental reasons. However, in this post, we will specifically delve into the technical aspects.
As elucidated in my previous analyses, the breakout above the resistance of the falling wedge has the potential to signify a change in trend, and indeed, it has. The recent peak at 16 was...
I hope ICP is on it's way to a higher high, but until that is confirmed we have to consider we are still in a correction and may see a lower low. This channel is something i'm keeping an eye on.
Today, for ICP it opened below the ascending trend line but now looks rosier on the linear window by breaking back above. It also shows an uptick on the moving averages (admittedly my MA's are optimised for scalping not investing or swing trading). On the logarithmic, it broke through, closed below and is now re-testing. Next 24 hours could be interesting, and...
RSI cooled off enough for a parabolic move to the next level of resistance which I believe will be around $20.00 + with a few in between periodic pauses, settling around 17.00,
Chart finishing a nice pennant, enjoy the ride!
Not investment advice.
