ICPUSDT TW
ICP/TETHERUSinance
Macro Outlook & Context:
ICP has been in a prolonged downtrend since its initial listing, dropping over 95% from its all-time high. However, since late 2022, ICP has been forming a strong and well-defined accumulation base between the $3.00-$6.00 range.
Currently, price action and structure indicate that a potential breakout from this multi-year base is imminent. The setup is beginning to mirror a Wyckoff Accumulation Phase, where smart money accumulates quietly before launching into the next markup phase.
Technical Structure & Pattern
Breakdown:
Accumulation ZoneOver 80 weeks of consolidation within a tight horizontal range.
This forms a strong foundation for a powerful breakout move if confirmed.
Multiple Bottom Formation
Repeated failures to break below $3.50 suggest growing bullish pressure and seller exhaustion.Bullish Compression Higher lows forming inside the range.Resistance at $6.00 is being tested more frequently, indicating a breakout buildup.
Volume Profile Declining volume during sideways action = typical of supply exhaustion.Surge in volume during breakout would confirm entry into markup phase.
Bullish Scenario (Primary Setup):
If price breaks and closes above $6.00 on the weekly timeframe:
Key Resistance Targets:
$9.52$12.19 $15.28→$18.73-$22.49
Extended Bull Market Targets:
$29$36 $45+
Potential ROI from base zone: +200% to +600%
Bullish Confirmation Signals:
Strong weekly candle close above $6.00
Volume breakout
RSI crossing 50 and MACD bullish crossover
Bearish Scenario (Alternative):
If the breakout fails and rejection occurs at
Possible retracement back to lower support
$6.00:
zones: $4.50 $3.00
A breakdown below $3.00 would invalidate the bullish structure and open risk for new lows.
Bearish Red Flags:
Long upper wick near resistance without
volume
RSI drops back under 40.
Breakdown of $3.50-$4.00 support zone
Trading Strategy & Risk Management:
Entry Type Price Range
Breakout Entry $6.20-$6.50 Conservative SL $5.20
$ICP DYOR NFA
