🖥 Technical Analysis: Internet Computer ( $ICP )

Market Capitalization: $1.66 billion
The ICP chart is in a downward trend, although it's so gradual that corrections can be confidently caught. Current price: $3.05.

How to trade❔

Let's limit the current price range with two levels and build a strategy around them.

Upward level breakout❕

💬 Open a buy position on resistance breakout
💬 Stop-loss behind the nearest extreme
💬 Take-profit before the next level above (around $3.50-$4.00)

Downward level breakout❕

💬 Open a sell position on support breakout
💬 Stop-loss behind the nearest extreme
💬 Take-profit before the level below (around $2.80)

💬 The profit/risk ratio doesn't look particularly attractive, but it works for short-term trades. If it's higher than 1.5 to 1, the trade can be executed.

Conclusion:
ICP is suitable for short-term range trading. The technology is interesting, but market sentiment remains bearish.

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