ICP Stages Bullish Rebound From Sub-$5 Lows—But Still Down 2.4% (Traders Yawn)
Internet Computer (ICP) clawed back from bargain-bin territory below $5 today—only to remind everyone it's still stuck in the penalty box with a 2.4% drop. Classic crypto theater.
Dead Cat or Springboard?
The sub-$5 bounce got degens tweeting 'BTFD'—but the real story's in the tepid volume. No conviction, just algos playing ping-pong while retail watches from the sidelines.
Market Whiplash 101
ICP's 2.4% dip today proves even 'bullish reversals' need follow-through. Until then? Just another chart fractal for TA grifters to overanalyze between coffee breaks.
Wake us up when it breaks $6—or crashes through $4. Until then, enjoy the sideways action (and the hedge fund interns furiously spinning this as 'accumulation phase').
Technical Analysis
- Net 24-Hour Movement: -2.4% from $5.21 to $5.08
- Intraday Recovery: +3.2% from $4.97 to $5.13
- Key Support: $4.97–$5.00 saw repeated buying
- Resistance Zone: $5.09–$5.13 capped rally attempts
- Volume Surge: 524,622 units at 05:00 UTC, 56% above average
- Breakout: Cleared $5.03–$5.04 resistance
- New Floor: $5.04 forms as latest support level
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