In this analysis, I want to review the ICP coin for you—one of the DePIN and AI-related coins, ranked 37 on CoinMarketCap with a market cap of 3.11 billion.
📅 Daily timeframe
As you can see on the daily timeframe, a ranging box has formed around the key support at 4.648, and price is fluctuating inside this box.
🔔 The top of the box is at 6.205, and price has touched it multiple times. It just wicked into it again and got rejected.
📈 This level has become a very important resistance. If it breaks, we can enter a long position—and it’s even suitable for a spot buy.
🛒 I already hold this coin in spot from lower entry points and don’t plan to increase my spot volume, but I’ll open a futures position if 6.205 breaks.
🔽 If Bitcoin Dominance moves downward, the 6.205 trigger will be a very good entry point. A break above 70 on the RSI will also be a strong momentum confirmation.
📊 If price gets rejected from the top of the box and drops to the 4.648 support, we can open a short position in lower timeframes. A break below 4.648 would confirm the bearish outlook.
📝 Final Thoughts
This analysis reflects our opinions and is not financial advice.
Share your thoughts in the comments, and don’t forget to share this analysis with your friends! ❤️
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