#ICP
The price is moving within a descending channel on the 1-hour timeframe and has reached the lower boundary. It is now poised for a bounce and is expected to retest this boundary.
The Relative Strength Index (RSI) indicates a downward trend, which is likely to continue given the overbought conditions.
There is a key support zone (in green) at 1.96, and the price has bounced off this zone several times, making it a strong support level.
The price is trending towards the 100-period moving average, which we are approaching. This trend supports an upward move.
Entry Price: 2.13
First Target: 2.18
Second Target: 2.21
Third Target: 2.26
Stop Loss: At the resistance zone (in green)
Remember this simple rule: Money Management.
Any questions? Please leave a comment.
Thank you.
