ICP Plunges 5% as Critical Support Cracks—Is This the Start of a Deeper Correction?
ICP's price floor just turned into a trapdoor as sellers overwhelm key demand zones. The 5% nosedive signals trouble ahead—but is this a healthy pullback or the beginning of something uglier?
Technical Breakdown: The blockchain project's token sliced through support like a hot knife through butter. No fancy jargon needed—when levels break this hard, traders listen.
Market Sentiment: Crypto Twitter's usual 'buy the dip' chorus sounds suspiciously quiet today. Even the perpetual optimists are checking their liquidation prices twice.
The Silver Lining: Every crypto winter eventually thaws—though Wall Street 'experts' will still claim they saw it coming all along. (Spoiler: They didn't.)
Technical Analysis Highlights
- Price declined 4.77% from $5.66 to $5.39 between July 29 at 09:00 and July 30 at 08:00 UTC.
- Trading range spanned $0.33 (5.3%) from high of $5.68 to low of $5.35.
- Major breakdown occurred at $5.55 with volume surging to 647,663 contracts.
- Support at $5.38 tested multiple times during early July 30 trading window.
- Resistance formed at $5.44 amid declining volume and fading upward momentum.
- Consolidation range observed between $5.38 and $5.44 as price action flattened.
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