ICP Stabilizes Around $4.8 After Heavy Volatility
Internet Computer weathers storm, finds footing at $4.80 after wild trading session rattles holders.
Market Mechanics: Whiplash-inducing swings test trader nerves as ICP battles for stability.
Technical Resilience: Network fundamentals hold strong despite price turbulence shaking weak hands.
Trader Psychology: Volatility separates diamond hands from paper hands—again proving crypto isn't for the faint-hearted.
Looking Ahead: Consolidation at current levels could set stage for next move—because what's crypto without another round of 'to the moon or to zero' speculation?
Technical Analysis
- ICP traded across a 17 cent range (3.4%) from $4.77 to $4.94.
- Midnight surge to $4.94 marked the session peak before a sharp reversal.
- Volume spikes above 600,000 units recorded between 14:00-16:00 UTC.
- Resistance established in the $4.93–$4.94 zone on heavy selling.
- Support confirmed at $4.77 after steep correction.
- Rally from $4.78 to $4.83 delivered a 1% gain.
- Buying volume surpassed 25,000 units at 08:10 UTC during the rally.
- Successive resistance breaks at $4.79, $4.8, and $4.82 formed an uptrend channel.
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