đICP/USDTđ
ICP/USDT is looking bullish today, with a confirmed breakout on the 4-hour timeframe, indicating strong bullish momentum.
The pair has broken out of a descending channel and formed an inverse head and shoulders pattern, increasing the likelihood of a bullish move .
Key Levels to Watch:
- Support: 5.50 - 5.70
- Resistance: 9.00 USDT
Technical Analysis:
The Relative Strength Index (RSI) is extremely low, below 30, indicating a potential buy opportunity. Additionally, 16 out of 18 technical indicators are currently bullish, with signals from moving averages and Japanese candlesticks supporting a bullish trend.
Trade Ideas:
- Buy above 21-19-18$ with a stop loss below 18$ and target of 24-26-28-30-32-37.50-43-46
- Long-term investors can consider buying near 17 and 14
Market Sentiment:
The market sentiment is currently bullish, with a 60% chance of an upward move. However, be cautious of potential retracement to trap buyers .
