$ICP (1D) Analysis:

Moving Averages:

MA 7: 7.992

MA 25: 9.169

MA 99: 10.176

Bollinger Bands:

Upper Band: 11.156

Lower Band: 5.097

Stochastic RSI:

Current Value: %K 14.43, %D 3.45

MACD Line: -0.276

Signal Line: -0.362

ADX Value: 22.45

BoP Value: 0.70 (indicating buyers are in control)

CMF Value: -0.08

Detailed Analysis:

Current Price and Moving Averages:

The current price is around 7.644, which is below the short-term MA 7 (7.992), indicating a potential short-term bearish trend.

The price is also below the MA 25 (9.169) and MA 99 (10.176), suggesting overall bearish momentum.

Ichimoku Cloud Analysis:

The price is below the Ichimoku cloud, indicating a bearish trend.

Bollinger Bands:

The current price is closer to the lower band (5.097), indicating that the asset is potentially oversold.

The middle band (20-period SMA) is around 8.399, which aligns with the resistance from the Ichimoku cloud.

Stochastic RSI:

The Stochastic RSI indicates an oversold condition (K 14.43, D 3.45), suggesting a potential upward correction.

The MACD line is below the signal line, supporting the bearish outlook. However, the negative values indicate potential for a bullish crossover if momentum shifts.

Key Resistance and Support Zones:

Immediate Support Zones:

7.235 ,6.2920,6.1617,5.8760

Immediate Resistance Zones:

7.992 ,8.318 ,8.399 ,8.6295

Higher Resistance Levels:

9.169 ,9.862 ,10.176 ,11.986

Higher Support Levels:

7.783 ,7.203

Conclusion:

ICP/USD shows a bearish trend with several resistance levels to watch closely. Key support levels at 7.235 and 6.2920 could provide a floor, while significant resistance at 8.399 and 9.862 may cap upward movements. The Stochastic RSI suggests a potential for a rebound, but overall, bearish signals dominate until the price breaks above critical resistance levels.

For precise trading, monitor these zones and indicators closely for any shifts in momentum or trend changes.

I'm bullish on ICP for the long run.

Watch out for $BTC Dominance.

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