ICP Technical Analysis Feb 10

ICP is positioned just above the critical support zone of 2.4241 at the 2.43 dollar level, squeezed under downward trend dominance. RSI at 33.62 is giving an oversold signal, indicating potential reaction buying, but recovery may remain limited without breaking resistances.

Current Price Position and Critical Levels

ICP is trading at the 2.43 dollar level with a 0.65% decline over the last 24 hours and is squeezed in the narrow 2.34-2.47 range. The overall trend is downward; the price continues to stay below EMA20 (2.80 dollars) and the Supertrend indicator is giving a bearish signal, with resistance prominent at 3.24 dollars. The downtrend structure is maintained on the 1D chart, while 8 strong levels were identified in MTF confluence: 2 supports/1 resistance on 1D, 1S/1R on 3D, 2S/3R on 1W. Volume is low at 55.46 million dollars, indicating that big players are waiting for liquidity hunting. The price is testing the nearby support at 2.4241; if broken, it could accelerate toward 2.00 dollars, but if held, the first challenge to the 2.4373 resistance could come.

Support Levels: Buyer Zones

Primary Support

2.4241 dollars (score: 63/100), stands out as the primary support just below the current price. This level forms at the intersection of the 24-hour low (2.34) and the 1D order block; it has been tested 3 times in the past with a 72% rejection rate. Confluence exists on 1D and 3D timeframes: swing low on 1D, demand zone on 3D. Volume profile is concentrated here, with buyers having entered aggressively in the past. It also aligns with EMA50 (around 2.45), making it a strong buyer zone. In case of breakdown, invalidation will come with a drop below 2.34, confirming the downtrend.

Secondary Support and Stop Levels

2.0000 dollars (score: 73/100), secondary and main support; strong supply/demand transition on 1W timeframe. Historically tested 5+ times with 85% hold rate, a large liquidity pool has accumulated here. Confluence with 1W Fibonacci 0.618 retracement and 3D order block. Volume delta is positive, institutional buying is observed. Watch for breakdown below 1.95 as a stop level; this opens downside target to 1.50 dollars (R/R 1:3). For upside reaction above, 2.4241 hold is required.

Resistance Levels: Seller Zones

Near-Term Resistances

2.4373 dollars (score: 66/100), the nearest resistance; overlap of 24-hour high and 1D supply zone. 68% failure rate in recent rejections, point where short sellers collect liquidity. First test zone before approaching EMA20 (2.80), volume spikes here show seller dominance. Close above 2.47 required for breakout confirmation, otherwise high fakeout risk.

Main Resistance and Targets

2.80-3.24 dollar band is the main resistance cluster: EMA20 (2.80) and Supertrend resistance (3.24). 3 strong R levels confluence on 1W, 75% reversal in past breakouts. 3.8524 upside target (score 25), confluence with Fibonacci extension 1.0 and 1D/1W supply block. BTC stabilization and volume increase needed to reach targets; invalidation above 3.50 with bull trend shift.

Liquidity Map and Big Players

Big players (smart money) appear positioned for liquidity grab below 2.4241; this is a retail stop-loss pool. Above, imbalance created with equal highs/lows between 2.4373-2.47, ideal for sweep. From 1W perspective, 2.00 support is a liquidity magnet, low short squeeze potential on downside break. Order flow analysis shows long position accumulation around 2.00. Liquidity map: Downward bias with 2.4241 test, then likely raid to 2.00. Check detailed data for ICP Spot Analysis and ICP Futures Analysis.

Bitcoin Correlation

BTC at 70,236 dollar level in downtrend (-0.77%), Supertrend bearish; main supports 69,770 / 65,786 / 62,382. ICP correlates 0.85% with BTC; if BTC breaks 69,770, ICP loses 2.4241 and accelerates to 2.00. If BTC resistances 70,932 / 74,418 are broken, ICP could test 2.80 with short covering. Dominance increase pressures altcoins, BTC stable recovery triggers ICP upside. Critical watch below BTC 69k.

Trading Plan and Level-Based Strategy

Level-based outlook: Long bias with 2.4241 hold (targets 2.4373-2.80, stop below 2.34). Short on breakdown (target 2.00, stop above 2.47). Target R/R 1:2+; monitor RSI oversold divergence. Wait for MTF confluence, volume confirmation required. This is not financial advice; apply your own risk management on spot or futures platforms. Potential scenario: 40% chance of 2.00 test, 35% 2.80 breakout, 25% rangebound.