🔴 $ICP — Resistance Hold, Downside Continuation Likely
$ICP is pressing against strong resistance / prior sell zone again, but upside seems to be capped once more.
Price did not hold acceptance above this zone after the bounce, and clear selling absorption is visible with every push higher.
Upside momentum is weak and the price is repeatedly stalling at the same resistance area.
This structure does not indicate a trend shift, but rather looks like distribution after a bounce.
As long as this zone continues to cap the price, downside continuation will remain a higher-probability play 👇
📉 Trade Setup — Short $ICP
Entry: $4.10 – $4.20
Stop Loss: $4.40
Target 1 (TP1): $3.85
Target 2 (TP2): $3.60
🧠 Technical Bias
Rejection from the prior sell zone
Weak follow-through on upside moves
Strength of buyers is not sustaining
Structure still shows lower-high distribution
➡️ As long as the area of $4.20–$4.30 is not cleanly reclaimed, shorts will be favored.
$ICP is pressing against strong resistance / prior sell zone again, but upside seems to be capped once more.
Price did not hold acceptance above this zone after the bounce, and clear selling absorption is visible with every push higher.
Upside momentum is weak and the price is repeatedly stalling at the same resistance area.
This structure does not indicate a trend shift, but rather looks like distribution after a bounce.
As long as this zone continues to cap the price, downside continuation will remain a higher-probability play 👇
📉 Trade Setup — Short $ICP
Entry: $4.10 – $4.20
Stop Loss: $4.40
Target 1 (TP1): $3.85
Target 2 (TP2): $3.60
🧠 Technical Bias
Rejection from the prior sell zone
Weak follow-through on upside moves
Strength of buyers is not sustaining
Structure still shows lower-high distribution
➡️ As long as the area of $4.20–$4.30 is not cleanly reclaimed, shorts will be favored.