ICP Drops 2.35% to $5.18 Amid Ongoing Market Volatility
The Internet Computer Protocol (ICP) decreased by 2.35% in the last 24 hours, trading at $5.18. The price fluctuated within a range of $5.14 to $5.40, indicating a 4% volatility.
Key points from the analysis:
- Price range was $5.14–$5.40.
- Resistance established at $5.40 with a volume of 294,177 units.
- Support identified at $5.17-$5.20, with early volumes over 643,000 units.
- Repeated resistance at $5.24 confirmed a descending channel.
- Heavy selling occurred between 13:32–13:46 UTC, with a spike of 34,396 units at 13:54 UTC.
- Volume showed a declining pattern, indicating market exhaustion.
ICP may face further pressure if support at $5.17 does not hold as traders reassess their positions.