ICP (Internet Computer) Chart Analysis & Trade Plan
The ICP chart is showing a weak three-wave move up compared to stronger moves in other coins. For a true bullish confirmation, a break above $6.40 is required — this would signal a potential bottom and open the path for more upside.
Key Technical Levels:
Resistance to break: $6.40 (neckline and key breakout level)
Support to hold: $4.43 (Wednesday’s low and bullish invalidation point)
Current Structure: Potential ABC correction or developing 5-wave impulse (bullish scenario pending)
Upside Targets (if bullish breakout confirms):
$6.12 — minimal target for wave 3
$6.47 — 178.6% Fibonacci extension
$6.72 - $7.00 — 200% extension and ideal wave 5 target
Trade Setup:
Entry Zone: Between $4.50 - $5.50 (using the entire support box for potential long entries)
Stop Loss: Below $4.43 (below last swing low)
Targets:
TP1: $6.12
TP2: $6.47
TP3: $6.72 - $7.00
Notes:
Watch for a clear 5-wave structure to form and a breakout above $6.40 for strong confirmation.
If price stays below $6.40 and breaks $4.43, downside remains open and this move may fail as a corrective bounce.
Momentum is not strong yet, so caution is advised until clearer bullish signals appear.