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ICP – ALTCOIN CHART ANALYSIS




InternetComputer (ICP) has broken the uptrend and remains in a parent range of $4.50-$10. This is an additional downtrend.


We are currently trading at around $6.18. The 200-SMA and 200-EMA represent strong resistances and trading volume so far is very light, making an impulsive move to the upside unlikely.


Although we were able to leave the 4H-EMA Ribbons at the top, this happened without any real volume. We could still get the wick at around USD 6.44 before we get another setback.

On the daily chart, the picture is not really bullish. The Daily EMA Ribbons are pushing us down and the turnover is very low.


Most of the liquidity remains in the $4-$4.50 area. It is still very likely that sooner or later we will return to this area.


With the overall market remaining bearish, we should not expect to retest the upper range. We still have a high volume peak there, but technically it would be better if we first got the wick at USD 4.50 and then headed towards USD 10.

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