Post
GK-ARONNO
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ICP: False Break, Bullish Reversal in Play🚀🪄
$ICP
{spot}(ICPUSDT)
{future}(ICPUSDT)
Since the low from early April, ICP has traded within a well-defined range between $4.5 and $6.0.
Recently, the price broke below the range support, reaching as low as $4.0, but this move lacked follow-through. Instead, ICP quickly rebounded — a classic false break signal.
This rebound also resulted in a break above the descending trendline that started in mid-August, giving the chart a decisively bullish tone.
At this stage, all signals point toward further upside continuation, with the upper boundary near $6.0 as the first natural target.
However, considering that false breaks in one direction often lead to real breaks in the opposite, there’s a strong possibility that ICP could break above $6.0 in the medium term, potentially accelerating toward the key $10.0 zone.
________________________________________
✅ Key Takeaways:
• Range: $4.5 – $6.0
• False break below $4.0 reversed quickly
• Trendline from August broken to the upside
• Bullish outlook → targets $6.0 and possibly $10.0
{spot}(ICPUSDT)
{future}(ICPUSDT)
Since the low from early April, ICP has traded within a well-defined range between $4.5 and $6.0.
Recently, the price broke below the range support, reaching as low as $4.0, but this move lacked follow-through. Instead, ICP quickly rebounded — a classic false break signal.
This rebound also resulted in a break above the descending trendline that started in mid-August, giving the chart a decisively bullish tone.
At this stage, all signals point toward further upside continuation, with the upper boundary near $6.0 as the first natural target.
However, considering that false breaks in one direction often lead to real breaks in the opposite, there’s a strong possibility that ICP could break above $6.0 in the medium term, potentially accelerating toward the key $10.0 zone.
________________________________________
✅ Key Takeaways:
• Range: $4.5 – $6.0
• False break below $4.0 reversed quickly
• Trendline from August broken to the upside
• Bullish outlook → targets $6.0 and possibly $10.0
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