- After a retracement phase, Ice Network’s native token seems to be showing a bullish sign.
- Analysts suggest taking a buy position when the coin’s is near the lower end of an identified horizontal range can be profitable.
- Technical indicators, including ADX at 31.01, confirm a solid trend structure.
A respected cryptocurrency analysis account on X, Alpha Crypto Signal, has shared an exciting update about ICE, the native token of the ICE Network. The post suggests that ICE might be gearing up for a big price increase soon.
Alpha Crypto Signal states that ICE has experienced strong upward movement recently which in trading is described as a “parabolic move.”
ICE Enters “Horizontal Channel,” Signifying Potential Retrace Before Next Climb
Now, the coin is taking a breather, settling into what traders call a “horizontal channel.” Right now, ICE is trading below the middle of this range, which the account says is a sign of a “slow retrace.”
In simpler terms, the price is dipping a little, but this could be a healthy step before the next jump. The post offers a trading strategy for those interested in ICE. If the price drops to the lower edge of this horizontal channel, Alpha Crypto Signal sees it as a good opportunity to buy.
They suggest staying invested in ICE while it remains within the range, then plan to sell or change position once it moves sharply beyond the channel. When this “breakout” occurs, it indicates the beginning of the next major upward move.
The analysis points out that Ice Network’s price structure holds up well which implies it will probably continue to rise once the current cool-off period ends.
Source: X (@alphacryptosign)
TradingView Indicators Confirm ICE Consolidation and Strong Trend
At 31.01, the ADX reading, according to data from TradingView demonstrates that the current trend is strong. By staying between Fibonacci retracement levels of 0.00543 and 0.01500, the Ice Network price displays stability which agrees with what Alpha Crypto Signal identified.
The close difference between the buy and sell prices means neither the bulls nor bears are totally dominating the market yet.
Source: TradingView
