š„$ICNT Bullish, But Waiting for a Dip to Buy
Right now, the trend looks bullish overall, but weāre in a correction phase after hitting recent highs. Let me break it down quickly based on what Iām seeing on the charts and flows.
Volume spikes have been huge during those big price pumps ā think days like the ones with massive green candles where volume just exploded. The latest 24h saw +19% with solid volume around 93M, which screams real buyer interest. Thatās classic bullish confirmation. But watch out: right at these highs, volume is dropping off a bit, so it feels like buyers are taking a breather.
On the capital flow side, itās a mixed bag. Net contract flow over 24h is negative (around -829k USDT), funding rate is negative too, which means some smart money is probably taking profits or opening shorts.
Spot flow, though? Super positive (+478k USDT) ā spot buyers are accumulating hard, which is a good sign for the longer term.
Technical setup is still bullish ā MAs are aligned, MACD looks strong ā but thereās a bearish KDJ crossover and price is hugging resistance. Plus, that negative funding and contract outflows make me think we could see a short-term pullback or sideways action before the next leg up.
My personal take on $ICNT Cautiously bullish.
I wouldnāt chase it right now ā too risky at current levels.
Better to wait for a dip into the support zone around MA10 (~0.4100) or even down to the 24h low (~0.3580), ideally near 0.400ā0.410 USDT. Thatās where Iād look to go long.
If youāre entering around there, put a stop-loss ~0.3850 for a 0.405 entry to protect against a fakeout.
Targets? First one at the recent high/resistance ~0.4630. If we break that on volume, next could be 0.510ā0.520 (upper Bollinger + psych level).
What do you guys think? Anyone else holding or waiting for a pullback? Drop your thoughts below!
#ICNT #icntusdt #Impossiblecloudnetwork