🔻 $ICNT
Analysis: Bearish Structure Forming Below Resistance
$ICNT is currently showing clear signs of exhaustion after rejecting its daily resistance. We are seeing a Lower High (LH) structure forming on the higher timeframes, indicating that the bears are reclaiming control.
🔍 Technical Breakdown:
EMA Rejection: Price is trading comfortably below the 7 & 25 EMA on the daily chart. This confirms that the short-term trend has shifted from bullish to bearish.
Corrective Bounce: The recent upward move lacks "Impulsive" volume and appears to be a mere corrective bounce before the next leg down.
Key Pivot: The $0.41 area is acting as a strong ceiling. As long as we stay below the $0.445 level, the bearish thesis remains the dominant play.
📝 Short Trading Plan:
Entry Zone: $0.402 – $0.415
Stop Loss (SL): $0.445 (Strict exit if price reclaims this level)
🎯 Take Profit (TP) Targets:
TP1: $0.380 (Immediate liquidity)
TP2: $0.355 (Mid-range support)
TP3: $0.320 (Major liquidity pocket)
⚖️ Risk Warning:
A decisive daily candle close above $0.445 will invalidate this setup. Trade with discipline and manage your leverage wisely.
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