$ICP /USDT – BEARISH PRESSURE BUILDS BELOW KEY SUPPORT ZONE!
$ICP is currently trading at $5.401, showing a -3.14% decline over the last 24 hours. The recent break below the $5.50 psychological level indicates weakening bullish momentum, and sellers are starting to dominate.
Key Technical Levels:
Resistance Levels: $5.50 / $5.78 (24h High) / $5.80
Support Levels: $5.30 (Immediate), $5.10 (Major), $4.85 (Next strong support)
Current Price: $5.401
Trade Setup – SHORT POSITION
Entry: $5.40 – $5.45 zone (after weak bounce)
Target 1: $5.30
Target 2: $5.10
Stop Loss: $5.62 (Above last resistance and hourly structure)
Market Outlook:
ICP has broken down from a tight consolidation range and failed to hold above $5.50, which acted as key support for the past few sessions. Momentum indicators are pointing bearish on the 1h and 4h timeframes. Unless bulls reclaim $5.50 quickly, we may see further downside pressure toward $5.10.
Risk Management:
Use proper position sizing – risk only 1-2% of your capital per trade. Wait for confirmation and avoid revenge trading. Always use stop-loss to control potential drawdown.
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