The analysis for ICPUSDT indicates a bearish trend. The analyst suggests the market structure is showing three waves up and five waves down, indicating a series of lower lows and lower highs. Resistance is currently being respected with the price not reacting to the golden ratio level, signaling weakness. The analyst does not expect a breakout to the upside. A wave two bounce is anticipated, but the chart is currently looking weak. The next support level is at $3.66. The analyst says there are options for a bullish perspective but the price needs to show a five wave move up to change direction and this would require the price to reach the first ideal target for a third bullish wave (9.772) to indicate the bulls are back. The analyst plans to adjust the resistance if the market dips. For now, $4.518 acts as fail bound.