๐ Current Price: ~$6.05
๐ 24H Change: -15%+
After reaching a local top near $9.85, ICP has entered a strong corrective phase, now losing multiple supports as sellers accelerate.
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๐ TECHNICAL ANALYSIS (4H)
๐ป Trend
Sharp rejection from $9.85
Continuous lower highs & lower lows โ bearish structure
Trading below MA(7) & MA(25) โ short-term pressure increasing
MA(99) (~$5.07) remains far below โ mid-term trend still trying to stabilize
๐ Key Levels
Type Price
Immediate Resistance $6.60 โ $7.10
Major Resistance $8.00
Immediate Support $5.55
Major Support $5.00
If ICP loses $5.55, next flush could retest $5.00, where demand is expected.
๐ Volume
Selling volume remains elevated
Weakness in buyer support โ continuation risk
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๐ฅ FUNDAMENTAL ANALYSIS
โ Positives
Strong focus on decentralized computation
Active developer ecosystem
Long-term vision remains strong
โ ๏ธ Risks
Broader market weakness dragging altcoins
Speculative leverage likely unwinding after recent rally
Network growth is stable but not accelerating fast enough to support premium valuations in short-term
Bottom line:
Fundamentals remain promising long-term, but near-term sentiment is dominated by profit-taking and macro uncertainty.
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๐ฏ TRADING SIGNAL (SHORT-TERM)
> Bias: Bearish Until Price Reclaims $7.10
๐น Entry (Sell): $6.20 โ $6.40
โ Stop-Loss: $7.10
โ Take-Profit Targets:
โข TP1 โ $5.55
โข TP2 โ $5.20
โข TP3 โ $5.00
โ๏ธ R/R improves if entered near $6.40
โก Aggressive Long Setup (High Risk)
Only valid if price bounces from $5.50โ$5.00
Entry: $5.10 โ $5.50
Stop-Loss: $4.75
TP: $6.20 โ $7.00
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โ SUMMARY
ICP is undergoing a strong correction after parabolic gains. Price is now below short-term moving averages and dipping toward major support, signaling possible continuation toward the $5.50โ$5.00 demand zone.
Until bulls reclaim $7.10, rallies remain selling opportunities.
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