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ICP – ALTCOIN CHART ANALYSIS

 


ICP (Internet Computer) continues to be in an overall downtrend. Unfortunately, we did not manage to break through this or form a higher high. We're currently trading at around $5.20.


Looking at the 2H chart, we can see that we saw another brief pump towards $5.46 tonight. However, this was immediately sold off again after the monthly close.


Now we find some support on the weekly support S1. Directly below from 5.04 - 5.10 USD there is still a small support zone, which ICP will very likely get, since there is a lot of liquidity here.


On the daily chart we see a much more bullish picture. We are still in a downtrend there, but a double bottom pattern could emerge and bring us a trend reversal.


However, it has to be said that we could still dip into the $4.60 area again as the left bottom of the pattern was formed with a lot of volume and hence a lot of long positions were opened here.


So ICP now has two options. We  are now either holding support over the weekend  and starting an uptrend or dropping back into the $4.60 area once again forming a perfect second bottom. 

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