ICP Technical Analysis: Is There A Short-term Buying Opportunity In ICP?

The Internet Computer (ICP) prices halt at the support trendline within a triangle pattern teasing a reversal. So, should you ride the short bull run? The ICP prices complete the bear cycle within the triangle pattern in the daily chart as it reaches the base trendline. Moreover, the lower price rejection in the previous candle teases a bull cycle ready to bounce the prices back to the resistance trendline. So, should you consider taking a short-term bullish entry into Internet Computer? Key Points: The Internet Computer prices resonate within a symmetrical triangle pattern. The bullish reversal struggles to bounce within the triangle. The intraday trading volume in Internet Computer is $41.29 million. Source – TradingView ICP Technical Analysis The ICP price displays a symmetrical triangle pattern forming in the daily chart over the past few months. The recent bear cycle results in a 17% drop before showing lower price rejection at the ascending trendline. Moreover, the price action shows a morning star pattern possibility as the buyers attempt to regain trend control. Hence, the market value may rise higher to the 50-day EMA to test the resistance trendline. Furthermore, the growing bullish support is evident in the hike in intraday trading volume, which increases the possibility of a positive turnaround. If the ICP price trend gains bullish momentum, the 9% jump to the resistance trendline can lead to a bullish breakout, pr...