Is it just me or does $ICNT look like it’s about to fall off a cliff after that massive run?
We’ve been watching this thing climb non-stop from the 0.35 area, and it just tagged 0.547 before hitting a wall. That’s a massive move, nearly 40% up, but the last couple of hourly candles are looking a bit tired. We're seeing a red candle forming right now at 0.513, which usually means the early buyers are starting to take their profits. If we can’t hold this 0.50 level, the next stop is probably down near 0.47 where there's some previous structure. Volume is still decent at 127M, but it needs a lot more gas to break that 0.55 resistance and keep the party going. I’m sitting on my hands for a bit. If it consolidates here, it might have one more leg in it, but I’m definitely not buying the top of a vertical move.
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
Is it just me or does $ICNT look like it’s about to fall off a cliff after that massive run?
We’ve been watching this thing climb non-stop from the 0.35 area, and it just tagged 0.547 before hitting a wall. That’s a massive move, nearly 40% up, but the last couple of hourly candles are looking a bit tired. We're seeing a red candle forming right now at 0.513, which usually means the early buyers are starting to take their profits.
If we can’t hold this 0.50 level, the next stop is probably down near 0.47 where there's some previous structure. Volume is still decent at 127M, but it needs a lot more gas to break that 0.55 resistance and keep the party going.
I’m sitting on my hands for a bit. If it consolidates here, it might have one more leg in it, but I’m definitely not buying the top of a vertical move.
#GateChristmasVibes