ICP: Is This the Long-Term Launchpad or Just a Short-Term Bounce?
Looking at the ICP/USDT chart, we're seeing a fascinating split between timeframes!
Short-Term: The current price of $6.109 is clearly in a corrective phase after the massive surge. For a quick trade, the key is the $7.148 7-day MA. If we reclaim it, we could see a quick retest of the highs. If we drop below the $5.836 24h low, expect more downside towards the $4 handle. It's a day trader's dream right now: high volatility!
Long-Term: Zooming out, the explosive move from $1-$2 to nearly $10 signals a huge long-term bullish shift. The long-term support (99-day MA) is way down at $4.665. As long as ICP holds above this area over the next few weeks, this entire consolidation phase is just noise before the next major long-term leg up. This dip could be the final chance to accumulate for the next cycle! 💎
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