3 hours ago
After swiftly recovering from a crash to a year low recently, ICP faced resistance and resumed pressure as selling volume increased. It appears weak at support and looks poised for a bigger crackdown. Most of the altcoins have recently followed Ethereum’s pattern, and are now looking extremely oversold following a sudden collapse to a year low, including ICP, which is now trading at a critical support zone daily. A recent attempt to break through this support zone (of $7 and $5.8) has proven abortive. But now that trading is back there, we may soon see a major breakdown to the $3 level. Looking at the daily price actions, the selling volume appears low at the time of writing. However, if the bulls continue to defend the support zone well, we may see a mini-recovery towards $9 before deciding on where to head next. Pushing through this price level could bring a major relief in the market and at the same time restore bullish hope for a positive move. While there are no signs of such a scenario at the moment, the price may remain calm a bit due to low selling volume. That could lead to a brief consolidation phase before resuming bearish at full speed. ICP’s Key Level To Watch Source: Tradingview The immediate support level for a drop right now is $5.81. If the price collapses through it, the next level for support would be $4.5 and $3. Towards the upside, ICP recently held the $7.74 level as resistance. A push above that resistance should bring a little recovery to the $9 level. Higher resistance levels to watch for recoveries are $10.5 and $12.9. Key Resistance Levels: $7.74, $9, $10.5 Key Support Levels: $5.81, $4.5, $3 Spot Price: $6.87 Trend: Bearish Volatility: High Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services. Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news ! Image Source: moxumbic/ 123RF // Image Effects by Colorcinch
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Market Analysis altcoin altcoins crypto cryptocurrency ICP whale Whales
Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of BitMaden. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.
Bitcoin Gains Turing-Complete Smart Contract Capability with Launch of REE and RichSwap DEX
On February 8th, COINOTAG News reported the official launch of REE, a Bitcoin programmability extension protocol created by Omnity Network. This initiative heralds a significant advancement, introducing Turing-complete smart contract NullTx
$1K to $10M? These Altcoins Could Be the Next Solana and XRP!
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