The price has cleanly broken out of a descending trendline and successfully retested the breakout level at $0.005507.
ICE is consolidating between $0.005507 and $0.005847 following the breakout, maintaining a bullish structure.
A strong upward projection is indicated on the chart, pointing toward the $0.012 mark with volume holding steady.
ICEUSDT has successfully completed a breakout from its descending trendline, followed by a textbook retest of the breakout level. The asset was valued at $0.005714 and has recorded a 12.4% 7-day gain.
As of the current chart trends, the breakout was accompanied by several bounces to a support area that suggests a steady buying near the $0.0055 region. This development comes after several failed attempts to push higher from the same horizontal base, which had formed a short-term consolidation structure.
Clean Breakout and Retest Formation
A visual analysis of the price chart confirms a descending trendline that extended over several weeks. ICEUSDT broke above this line and quickly returned to retest the former resistance level. This action has now turned into support, located near $0.005507. The breakout occurred on an increased volume spike, which added further validation to the movement. Traders observing the setup would have noted the bounce from this level as a technical confirmation.
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Following the retest, the asset maintained support and resumed upward movement. The immediate overhead resistance is now situated at $0.005847. This price level marks the upper range of the 24-hour trading channel and acts as the next key barrier. ICE is currently positioned at rank 875 by market capitalization, with the token trading against BTC at 0.075003.
Tight Range Defines Immediate Structure
Within the last 24 hours, the price of ICE has fluctuated between 0.005507 and 0.005847. When momentum is gathering, the price is contained in this narrow range. The lower boundary at $0.005507 has acted as a key pivot zone throughout the recent price cycle. However, sustained price action above the trendline shows short-term structure realignment.
The price movement remains defined by a steady incline following the retest. No further support breakdowns have occurred since the trendline was crossed. Price continues to consolidate near upper range levels.
Price Action Eyes Higher Levels on Volume Increase
Technical projections based on pattern analysis suggest possible upside continuation. A sharp vertical path is visible on the chart, projecting higher toward the $0.012 mark. The current setup reflects an extended recovery phase from prior lows. Volume profile remains stable across the recent price action, with no major outliers.
Traders will continue watching the defined support and resistance points for confirmation of the next phase. ICEUSDT maintains structure above the breakout zone while holding key levels in the near term.