Hey traders,
Looking at ICP on the 12-hour time frame, we see the two local highs that were created and the question on everybody’s mind is can we go higher?
Breaking down the TA, we look like we’ve retested our levels of support at $5.24 and can now move up / change in direction to the upside. We may fiddle around between the $5.24 - $5.59 zone for a bit before advancing towards $6.37, but we could also go straight there.
Next targets after securing $6.37 as support would be the sweep around $7.2 marked in orange, and then $9.43. There really isn’t much sell orders on the books and that’s something to factor into your trade as well.
I belive this previous move was just a teaser for the real move up, and the zone of accumulation that we’re in was from $4.88 - $5.59. Everything in between and out of that range was deviation from the accumulation zone. We may just pump to $9.43 on this next wick up, however, we need some sort of momentum to carry the price 100%.
ckBTC integration was great, shot the price up tremendously, and we need the same kind of hype with ckEthereum as well as more BTC locked on the ICP chain, garnering momentum from all angles to support the squeeze in price.
It’s going to happen one of these days, Cycles are used by developers (a necessary resource) to keep their canisters alive and is native to the ICP chain, tied to the SDR (Special Drawing Rights) currency.
Remember to take profits on the way up.
As always please do your own research, this is not financial advice.
Looking at ICP on the 12-hour time frame, we see the two local highs that were created and the question on everybody’s mind is can we go higher?
Breaking down the TA, we look like we’ve retested our levels of support at $5.24 and can now move up / change in direction to the upside. We may fiddle around between the $5.24 - $5.59 zone for a bit before advancing towards $6.37, but we could also go straight there.
Next targets after securing $6.37 as support would be the sweep around $7.2 marked in orange, and then $9.43. There really isn’t much sell orders on the books and that’s something to factor into your trade as well.
I belive this previous move was just a teaser for the real move up, and the zone of accumulation that we’re in was from $4.88 - $5.59. Everything in between and out of that range was deviation from the accumulation zone. We may just pump to $9.43 on this next wick up, however, we need some sort of momentum to carry the price 100%.
ckBTC integration was great, shot the price up tremendously, and we need the same kind of hype with ckEthereum as well as more BTC locked on the ICP chain, garnering momentum from all angles to support the squeeze in price.
It’s going to happen one of these days, Cycles are used by developers (a necessary resource) to keep their canisters alive and is native to the ICP chain, tied to the SDR (Special Drawing Rights) currency.
Remember to take profits on the way up.
As always please do your own research, this is not financial advice.