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ICP

ICP- A trading planAs you may be aware, my confidence in ICP remains strong, and I anticipate a price surge towards the resistance zone of 20-22 in the near term. Since there is a daily inquiry about it, I've put together a trading plan that might offer some guidance. Upon a closer look, it is evident that the current trend is upward. However, up trends (or down trends), are not linear... Following the high at 16, the coin initiated a correction and has been consolidating its gains. The recent consolidation is forming a symmetrical triangle, which is typically a continuation pattern. Keeping this in mind, let's explore potential scenarios: If there is a break above the triangle's resistance, we could interpret the correction as concluded and consider entering the market with the previously mentioned target. Conversely, if the triangle is broken to the downside, we should seek buying opportunities near the robust support level around 10. Combining the two scenarios: a. In the event of an upward break that turns out to be false, causing the coin to decline again, we can consider doubling our trade around 10. b. If there is a downward break, we initiate a buy near 10 and double our position when the price rebounds above 12. As for the less favorable scenario, if ICP drops below 10, we may incur losses. Therefore, it is crucial to trade with funds that you can afford to lose. That concludes the current analysis on ICP for now. I will provide updates if there are significant developments, especially in the case of a breakout. Best Of luck! Mihai Iacob
Long
by Mihai_Iacob
5
ICP will continue in the parabolic trend, time to buy?ICP looks really strong; the uptrend just started, and I am expecting another 300% pump in the immediate short term. We can see that the price is moving in this ascending bullish parallel channel, and we have a lot of space for growth. From the Elliott Wave perspective, wave 3 is in progress, and wave 3 is usually the strongest wave. You do not want to miss this uptrend. Let me know what you think about my analysis, and please hit boost and follow for more ideas. Thank you, and I wish you successful trades! The ICP token has three main utilities. Firstly, ICP provides a source of “cycles” that are burned to power computation (thus when ICP is converted to cycles, it disappears, creating deflationary pressure). Secondly, ICP can be staked in the permissionless Network Nervous System DAO that governs the Internet Computer blockchain, creating voting neurons that generate voting rewards. Thirdly, ICP plays the role of a store of value, for example allowing users to invest in decentralization sales run by web3 services.
Long
by Xanrox
3
ICP- Next leg up above 20usd mark?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 succeeded by a correction. The reversal, occurring just above 10 and characterized by a robust bullish engulfing, may indicate the conclusion of this correction. As of now, the price is trading precisely in the middle of the recent range at 13, and it is likely that a new upward movement will ensue. My target for this upward movement is the 22 resistance level, and considering a stop loss set below 10, a risk-to-reward ratio of more than 1:2 could be attained. In summary, in my perspective, traders ought to consider buying during market dips. Best of luck! Mihai Iacob
BINANCE:ICPUSDLong
by Mihai_Iacob
10
ICPUSDT.4HBased on the provided market data for the ICP/USDT pair, the current price of ICP is $12.187. The Relative Strength Index (RSI), a momentum oscillator that measures the speed and change of price movements, is 41.2 for the 4-hour chart, 63.22 for the 1-day chart, and 91.34 for the 7-day chart. This suggests that ICP is neither overbought nor oversold in the short-term (4h), while it is approaching overbought conditions in the medium-term (1d), and is significantly overbought in the long-term (7d). The Moving Average Convergence Divergence (MACD), a trend-following momentum indicator, is negative for the 4-hour chart (-0.271) suggesting a bearish signal, but positive for the 1-day (1.772) and 7-day (1.644) charts suggesting bullish signals. The Bollinger Bands (BB), a volatility indicator, for 4-hour, 1-day, and 7-day charts are -0.325, 14.945, and 12.298 respectively, suggesting a downward trend in the short-term, but upward trends in the medium and long-term. The support levels, which are the levels at which the price seldom falls below, are decreasing as we move from short to long-term charts, indicating a bearish trend. The resistance levels, which are the levels the price seldom surpasses, are increasing as we move from short to long-term charts, indicating a bullish trend. In conclusion, the ICP/USDT pair seems to be bearish in the short-term but bullish in the medium and long-term. The 7-day RSI suggests that ICP may be overbought and could be due for a price correction. However, these are just technical indicators, and other factors such as market news and overall market sentiment should also be considered. Always perform your own research before making any investment decisions.
by MarsSignals
ICPUSD: Bullish despite today's decline.Internet Computer remains bullish on its 1D technical outlook (RSI = 68.393, MACD = 1.900, ADX = 40.337) despite today's strong selling as it maintains the parabolic rise structure. It is about to test the 0.382 Fibonacci level, but the horizontal Resistance is slightly over it at 23.7500 (R1). This is our target (TP = 23.000) and after that we will wait for a 1D MA200 pullback to buy for the next rally (TP = 55.0000). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
CRYPTO:ICPUSDLong
by InvestingScope
1
ICP can head to $11.11 by maintaining support above pink channelWe can see its noticeably above the pink channel here. If it can maintain solidified support on the top trendline of the pink channel it should validate the breakout and it’s target will be $11.11 …currently we can see the other channel seen here is brown is still resistance at the moment but on the way to the target from the pink channel breakout we will need to also break above the brown channel and flip it to solid support too. Once we do, its breakout target is a little bit higher than the pink ones target so as we head to hit the pink channel breakout target, will likely also hit the slightly higher target of the brown channel breakout as well. *not financial advice*
COINBASE:ICPUSD
by DrDovetail
3
ICP/USDT Ready for Another Bull Rally? 👀🚀ICP Analysis💎 Paradisers, direct your focus to ICPUSDT as it undergoes a crucial phase in the market. The asset is showing signs of a potential breakout from its descending channel. 💎 Analyzing #InternetComputer's market trend, it has been consistently moving within a descending channel. At this juncture, ICP is poised to challenge a former resistance level, now serving as support at $8.813. There's a significant possibility that ICP could leverage this level to initiate a bullish trend, targeting the notable supply level at $13. 💎 However, in the ever-changing crypto market, #ICP traders must be prepared for various scenarios. If ICP does not sustain its bullish trajectory, a change in market direction could be on the horizon. Traders might then need to recalibrate their strategies, considering a bullish resurgence from a lower support level at $8.81. 💎 If ICP falls below this additional support level, a strategic reassessment would be crucial. This shift could suggest hurdles in maintaining the bullish trend, requiring an adaptation of trading strategies. 💎 Stay strategic and flexible, Paradisers. Your ParadiseTeam is dedicated to navigating you through these market changes, ensuring you're well-prepared for effective and informed trading decisions.
Long
by MyCryptoParadise_Simon
2
ICPusdtThis project is my favorite, even though I don't have any of this coin now and I had to sell it because of debt. But I envision a good future for this coin and I think it can go up to at least $85, but maybe not in the short term. I hope this opportunity will come again for Yemen Do your research and then buy. Good luck EntryPoint: 11.911 10.500 8.980 Supports: 7.920 6.613 5.258 3.933 3.376 Resistances: 13.214 14.650 Targets: 17.054 20.460 25.934 39.388 35.135 MidTime: 49.047 62.234 84.223 HODL: 117.715 149.364 202.139 282.016 and GOALS: Be careful with higher goals because the inflation in this currency has not been good, the maximum amount in this currency is not clear, it may not be available anymore. 347.110 485.247 GL
Long
by Shivaz
ICP Detailed ChartAs mentioned before, ICP coin broke out from $3.50 and reached the range of $9-10. Later, I shared another analysis and mentioned that it was trying to return from around $9.80, and if it can hold here, it could go up to $15, but if it can't, we might see a reversal around $7.50. I tried to explain this more clearly and explicitly in this chart. If the market is still in a bullish season, ICP will initially attempt the $13-15 range. If it can break this range and continue the uptrend, it will target the $20-22 range. As the year-end approaches, it's advisable to be cautious. Generally, the market experiences a drop before the year-end. However, the expectation of the Bitcoin ETF is keeping the market strong. I wish everyone good luck and a happy new year.
by Dantefe