ICP looks to be completing a 5 wave corrective Elliot wave count. We may be bottoming here putting in a higher low which will establish a trend change to the upside from a long term downtrend. It will be its first higher low.
ICP is also at the bottom of the channel that we have been trading in since early 2024, the move up after breaking channel has been aggressive the previous times, it should be just as explosive this time. The bar pattern is taken from the ICP drop from 2021 inverted. If alt season begins, likely ICP will go up as vertically as it fell down.
Interest in ICP needs to return as very low volume allows for price manipulation and keeping the price down. Whales have been accumulating more ICP which may indicate smart money is buying.
The bar pattern showing possible scenario and its time period is just my idea, not financial advice.
ICP is also at the bottom of the channel that we have been trading in since early 2024, the move up after breaking channel has been aggressive the previous times, it should be just as explosive this time. The bar pattern is taken from the ICP drop from 2021 inverted. If alt season begins, likely ICP will go up as vertically as it fell down.
Interest in ICP needs to return as very low volume allows for price manipulation and keeping the price down. Whales have been accumulating more ICP which may indicate smart money is buying.
The bar pattern showing possible scenario and its time period is just my idea, not financial advice.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.