ICP — Long Term Downtrend Breakout Scenario
ICP has been respecting a major descending trendline since the 2024 peak. Price is now around $2.65, with a recent low around $2.57. Weekly momentum is beginning to improve, with RSI back above 50 and MACD turning upward. My bullish scenario is that ICP eventually breaks the long-term descending resistance and begins a new expansion phase. Potential path I'm watching: 🔹 Breakout from long-term downtrend 🔹 Move toward $4–5 🔹 Pullback / consolidation 🔹 Expansion toward $9–10 🔹 Another consolidation phase 🔹 Long-term target zone around $20–22 This is a multi-stage hypothetical path, not a claim that price will move exactly this way. The key confirmation for me is a sustained weekly breakout above the descending trendline. If the breakout fails, the scenario is invalidated and ICP could revisit the recent lows.
