Internet Computer (#ICPCoin ) continues to show strong bullish structure after reclaiming key levels above $4.00. While price has slightly pulled back from the local high, the chart suggests this move is constructive, not bearish.
đ Chart Breakdown: Whatâs Happening?
On the 1-hour timeframe, ICP formed a clear ascending triangle, a classic bullish continuation pattern. After compressing near resistance, price broke out strongly, surging from the $3.60â$3.70 zone to above $4.20.
Currently:
Price: ~$4.12
Local High: $4.22
24H Gain: ~+12%
Structure: Higher highs & higher lows
The small retracement shown is a normal pullback after an impulsive move.
đ Why This Pullback Is Healthy
Rather than crashing back into the range, ICP is retesting the breakout area â a bullish sign. The white arrow on the chart highlights a possible support retest near $3.90â$4.00, which could act as a launchpad for the next leg higher.
Key bullish signals:
Breakout from ascending triangle
Strong impulsive candle
Pullback holding above former resistance
No major bearish volume spike
As long as ICP holds above $3.80, the bullish structure remains intact.
đŻ Key Levels to Watch
Support Zone: $3.80 â $4.00
Immediate Resistance: $4.30 â $4.40
Bullish Target: $4.80 â $5.00
A successful bounce from support could trigger renewed momentum toward psychological levels.
What This Means for Traders
This setup favors trend continuation, not panic selling. Breakoutâretest patterns often offer better risk-to-reward entries compared to chasing the initial pump.
Momentum traders will be watching volume closely â a volume expansion on the next push would confirm bullish continuation.
â ď¸ Final Thoughts
ICP is no longer trading in accumulation mode â itâs in price discovery territory. The market is digesting gains, and if support holds, the next move could surprise many on the upside.
đ Strong structure, controlled pullback, bullish bias.#MarketRebound #USNonFarmPayrollReport #ĺ¸ĺŽHODLer犺ćBREV #CPIWatch $ICP $XMR
