ICP price shows a bullish reversal after a long-coming downtrend with a double bottom breakout in an attempt to reach $10. Key technical points: ICP prices have jumped by 17.04% in the last 24 hours. The double-bottom breakout rally surpasses the $7 mark. The 24-hour trading volume of ICP is $197 Million, indicating a rise of 25%. Past Performance of ICP The ICP price action forms a consolidation after a long-term correction phase after taking support at the psychological mark of $5. Moreover, the increasing bullish influence creates a double bottom pattern to restart the bullish journey. In the last five days, the market value has appreciated by 32% resulting in the double bottom breakout and surpassing the $7 mark. Source- Tradingview ICP Technical Analysis The ICP price shows an increase in intraday trading volume, increasing the likelihood of a prolonged uptrend. Hence, traders can find bullish entry spots at the current market prices. The MACD indicator shows a long-coming trend in the fast and slow lines sabotaging multiple bearish attempts to reclaim the momentum. However, the increasing trend in the positive histograms avoids the bearish crossovers. Hence, the indicator showcases an increase in the buying pressure. The RSI indicator shows a sudden spike in the underlying bullishness following the bullish divergence in the double bottom pattern. Hence, the indicator takes a bullish side and forecasts a prolonged uptrend...
