ICP Softens as Failed Breakout Above $5.17 Shifts Market Back Into Consolidation
ICP slid to $4.90 after failing to break resistance at $5.17, shifting the market into a consolidation pattern.Summary
Internet Computer (ICP) lost ground, falling to $4.90 after its upward momentum stalled when attempting to break the key resistance level of $5.17, following a sharp rally on Monday. Trading activity intensified during the failed breakout attempt, with a spike in volume coinciding with the rejection. Hourly charts subsequently showed a pattern of lower highs and lower lows, indicating a shift into a corrective structure within a $0.39 range. ICP found temporary support around $4.92, rebounding slightly before stalling again between $4.92 and $4.97. This current consolidation is viewed as a pause within a broader November uptrend, with the $4.92 zone being crucial for short-term sentiment; holding this support is necessary to maintain focus on overcoming the $5.17 ceiling.
(Source：CoinDesk)