ICP/USDT Trading Scenario
Amid the negative news about Bitcoin, the price of ICP significantly declined, falling from a local high of $20.937 to $5.837, a drop of over 71%. The asset's price chart has fallen below the 0.75 Fibonacci level, which is often interpreted as a favorable buying zone.
From the perspective of volume profile, the area of interest for market participants is significantly higher, in the range of $13.041.
Currently, there is a positive reaction from buyers at the $5.837 mark, as evidenced by the formation of a daily pin bar. This signal could indicate a potential trend reversal and the beginning of an upward movement, as a pin bar typically signifies a change in market sentiment.
From the perspective of volume profile, the area of interest for market participants is significantly higher, in the range of $13.041.
Currently, there is a positive reaction from buyers at the $5.837 mark, as evidenced by the formation of a daily pin bar. This signal could indicate a potential trend reversal and the beginning of an upward movement, as a pin bar typically signifies a change in market sentiment.
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.