We sometimes use affiliate links in our content, when clicking on those we might receive a commission at no extra cost to you. By using this website you agree to our terms and conditions and privacy policy.
Momentum indicators legitimize the rally. The Relative Strength Index (RSI) is above 50 (black circle), and the Moving Average Convergence/Divergence (MACD) created a bullish divergence (orange).
Therefore, even though ICP has not yet broken out above the diagonal resistance, all signs point to an eventual close and a bullish price prediction.
What’s Next?
Since the cycle high of March, the price has completed a five-wave downward movement, culminating with the aforementioned all-time low.
What follows after a five-wave decline is either an A-B-C corrective structure or another five-wave increase.
If so, ICP is in an extended wave three, which is already 1.61 times as long as wave one.
Hence, the ICP price could reach a local top near the current level and begin a corrective wave four.
Afterward, the fifth and final wave could take the ICP price to its $13.40 target.
ICP’s Rally Will Continue
With momentum indicators turning bullish and price structure signaling a potential five-wave impulse, the breakout could be more than just a short-term recovery.
A confirmed close above resistance might open the door to $13.45 and beyond, reigniting hopes of a sustained uptrend.
A brief correction remains possible, but a confirmed close above resistance could solidify ICP’s uptrend.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Valdrin Tahiri is a cryptocurrency analyst and reporter at CCN, specializing in technical analysis with a focus on Elliott Wave theory, on-chain metrics, and fundamental research. He brings over seven years of experience in the crypto space as both a trader and writer.
He discovered cryptocurrencies in 2017 while earning his MSc in Financial Markets at the Barcelona School of Economics, which sparked a deep interest in blockchain and market dynamics. Since then, he’s contributed to top crypto outlets like BeInCrypto and CoinGape.
Valdrin also served as Community Manager of BeInCrypto’s Telegram group for three years, helping grow it into one of the largest crypto communities worldwide. His expertise in market structure and price patterns allows him to break down complex trends into clear, actionable insights.
He’s published thousands of articles covering altcoins, Bitcoin cycles, and macro trends.
