The Trust Layer for Market Analysts

The analysis focuses on ICPUSDT. It begins noting a three-wave move up followed by a five-wave decline, invalidating a previously considered bullish five-wave up scenario. The primary view is bearish, favoring a wider corrective pattern rather than an impulsive upward trend, as other cryptos have shown bounces, ICP has declined. Currently at the 78.6% retracement level, it reinforces the bearish view. A potential wave two bounce is expected, testing resistance between $5.26 and $7.95. Bulls would increase chances with five wave formations to breakout upside, with next support between $3.10 and $2.27.