- The ICP Coin’s price has crossed above the 100 EMA in the daily time frame
- The ICP/BTC pair was trading at 0.01541BTC with a loss of 2.84%
- The 24hr trading volume in ICP coin is $1.32 Billion
As mentioned in my previous article on the ICP coin, its price was resonating in a small consolidating range, taking a short break from its last bull rally. However, on 3rd September, the ICP coin finally managed to give a proper breakout from this level, offering an excellent opportunity for Crypto traders, with the end of the consolidation phase. The current price of the ICP coin is $79.8, with an intraday gain of $0.61
According to the EMA’s, The ICP coin shows a bullish outlook as its price is trading above the crucial EMA’s of 20, 50, and 100. Moreover, the coin’s price has just crossed above the 100 EMA and is currently trying to sustain above it.
The RSI (BULLISH) value is 65, indicating a bullish sentiment in the coin market. However, the investors can notice a slight bearish divergence in the RSI line.
ICP Coin Price Is Trying To Retest The Broken Resistance
The ICP coin chart in its 4hr time frame displays a clear view of the breakout from this rectangle pattern. This price is currently going through a retest phase, trying to obtain valid support from the $75 mark. Thus, if the ICP manages to sustain above this level, the price will continue with its bull rally.
The MACD indicator (BULLISH) indicates a bullish momentum in the coin as both the MACD line and the signal line are moving higher than the neutral zone(0.00).
Conclusion: From the technical perspective, the ICP coin indicates a bullish outlook regarding its price action and indicator. Moreover, trend traders who are looking for long opportunities can consider this coin as the price has given a breakout from its short consolidation and shows a reasonable possibility for continuing its uptrend.
Support: $75
Resistance: $100