🐻 ICP Pressure: Bearish Trend Intensifies, Is There a Chance for a Rebound?
Internet Computer (ICP) is performing weakly, with a daily decline of 7%. The technical situation is severe, here are the key points of analysis 👇
📉 Technical Overview:
Currently, the ICP price is at $2.36, trapped in a 'bear trap', far below key moving averages:
MA-20 ($2.67): Short-term pressure. MA-50 ($3.12): Medium-term resistance. MA-200 ($4.10): Global downtrend.
🛡 Key Levels to Watch:
Resistance: The primary targets for bulls are $2.95 (Ichimoku baseline) and $3.12. If these areas cannot be broken, discussing a reversal is still premature. Support: The current dynamic support is around $2.36. If lost, the next key support will look down to $2.10.
📊 Indicators and Momentum:
Currently, the signals are quite complex. On one hand, the MACD is in a strong sell state, while the ADX shows the current trend strength is weak. On the other hand, the RSI is below 42, and the Stochastic RSI is in the overbought area, which creates a market divergence.
⚠️ Judgment: The probability of a significant rebound within the next 5 days is estimated to be below 20%. The daily volatility remains high, and although buyers are trying to hold the price, bearish pressure still dominates.
Note: The above content does not constitute investment advice. Please be sure to do your own research (DYOR)!
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