FxWirePro- ICPUSD (Chart of the day)

Ichimoku Analysis  (4 hour chart)

Tenken-Sen- $14.39

Kijun-Sen- $12.83

ICPUSD was one of the best performers this month.

Any daily close above $15.25 confirms further bullishness.

ICPUSD  was the best performer for the past three weeks and surged more than 200% from the low of $5.50. Over the past 24 hours, ICP volumes surged by 107%. The pair holds well above the short-term (21 and 55 EMA) and long-term moving average. It hit a high of $16.28 and is currently trading around $15.26.

The bullish invalidation can happen if the pair closes below $8.50. On the lower side, the near-term support is $12.50. Any break below targets $10/$8.50. Significant downtrend if it breaks $5.30.

The immediate resistance stands at around $16.50. Any breach above confirms a minor pullback. A jump to $20/$23.50 is possible. A surge past $23.50 will take to $37.75.

It is good to buy on dips around $12.50 with SL around $8.50 for TP of $23.50.