ICP Slips as Volume Spike Confirms Breakdown Below Key Support
CoinDesk
ICP token dropped below the $4.95 support level amid a significant 85% surge in trading volume, reinforcing downside risk.Summary
The ICP token continued to face overhead pressure, trading near $4.80 after breaking below the key $4.95 support level, indicating increased short-term downside risk. A major inflection point occurred when trading volume jumped 85% to 5.63 million tokens, coinciding with a failed attempt to break above $4.98, which has now solidified as near-term resistance. Technical analysis suggests that ICP is likely to remain within a consolidation band defined by support at $4.63 and resistance at $4.98, with the next directional move dependent on which boundary breaks first.
(Source：CoinDesk)