ICP Technical Analysis: Buyers Have No Fire In Their Eyes

The steady downward trend in the ICP market has been going on since September 2021. During December 2021-January 2022, buyers gave great hope to investors in their readiness to break the trend of sellers. After the update of the then historical low (range of $25), the ICP price could not continue to fall sharply. In mid-December, buyers proved to the market that they can currently take the initiative. And they took, organizing a growth wave to the mark of $38. But, looking at the trading week on 3 January, the number of sellers in the ICP market remained large. Pay attention to the trading volumes during this week. Given the average size of the candle for the week of 3 January, trading volumes were abnormally high. In fact, it was the highest trading volumes in the history of ICP trading in the weekly timeframe. This fact shows us that sellers with limit orders sold their positions during the active price growth. The result is a new update of the historical low and continued price movements in the fall channel. At the moment, we see that starting from 14 March, buyers began a local growth wave. As part of this wave, trading volumes are low and the price is below the critical range of $25. While the ICP market is such a situation – investing in this cryptocurrency is dangerous. Technical Analysis Of ICP On The Daily Timeframe https://www.tradingview.com/x/BTOGez6T/ The lack of sufficient strength of buyers is also observed in t...