ICP- My 22+ target should become in play

As you may recall from my previous posts, I hold a very bullish outlook on ICPUSDT and have elaborated on the reasons why. If the price manages to maintain itself above the $10 mark, the most probable scenario would involve a new upward movement towards the $20-22 resistance zone.

Indeed, ICP reversed just below the $10 mark and began to establish higher lows in the weeks following the correction. As I mentioned in a post two days ago, TOTAL3 successfully broke (as anticipated) above $500B, providing confirmation for a new upward movement in altcoins.

Technically speaking, in the case of ICP, we observe a clear support level at $10 and a sequence of three higher lows. Additionally, the price action in 2024 resembles that of a symmetrical triangle, a pattern that typically indicates an upward continuation.

A break above the $13 zone would confirm the bullish scenario, with the target being the $20+ resistance zone. However, negation of this bullish outlook would occur with a break below the $11 zone. From a risk-to-reward perspective, such a trade could potentially offer more than a 1:4 risk-to-reward ratio.

Kommentar:

After a period of consolidation in which ICP bulls hold ground very well, finally the price broke up above 14usd resistance zone