$ICP /USDT – Bearish Reversal After Strong Rejection.....
Market Structure & Price Action
ICP faced a strong rejection near the recent recovery high, failing to sustain bullish momentum. After the impulsive bounce, price printed weak bullish follow-through and showed clear selling pressure from the resistance zone. The rejection indicates a bearish reversal, with sellers regaining control and a potential continuation to the downside.
Trade Setup (Short Bias)
Entry Range:
3.17 – 3.22 (Rejection & supply zone)
Targets:
🎯 Target 1: 3.10
🎯 Target 2: 3.05
🎯 Target 3: 2.98
Stop Loss (SL):
3.30 (Above rejection high & structure invalidation)
Bias & Expectations
Failure to hold above 3.20 confirms weak bullish strength.
Lower high formation suggests trend continuation to the downside.
Any minor bounce into resistance is likely to be sold into.
Short Outlook (Market Continuation)
As long as price remains below 3.25, bearish bias stays active.
A clean break below 3.10 can accelerate selling toward lower demand zones.
Bullish scenario only revives if price reclaims and holds above 3.30.
