$ICP Technical Analysis;
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• ICP’s momentum is strong compared to other cryptos, but not yet bullish in the 4-hour timeframe.
• Total value locked (TVL) for ICP has increased, with decentralized applications (dApps) seeing growth.
• The correlation between Bitcoin and ICP is decreasing, which is intriguing.
• ICP’s technicals are currently neutral but have a history of manipulation.
• Short-term, there’s bullish sentiment on ICP both technically and fundamentally.
• ICP has broken above the historically strong $14 level.
• The main resistance lies between $15 and $15.5, along with the 200 EMA and a trend line.
• A bullish breakout above this resistance could lead to a rally up to $17.5-$18.5.
• However, it’s likely that ICP will reach the resistance level and then drop back down.
• If Bitcoin turns bullish within 24 hours, ICP might break above the resistance level later on.
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