“ICP Traded in A 5% Channel from $ 4.60 Lows to $ 4.84 On Surging Volume, ShowCASING Resiliency Despite Broader Market Turbulence.”, – WRITE: www.coindesk.com
The token fluctuated Across A $ 0.24 Band, Equal To A 5% Swing, Moving Between $ 4.60 and $ 4.84, Accounting To Coindesk Research’s Technical Analysis Data Model.
The MOST SEVERE DECLINE OCCURRED BETWEEN 20:00 and 21:00 UTC on Sept. 1, WHEN ICP SLID FROM $ 4.74 to $ 4.60 As Trading Volume Surged to More 827,000 Units, Well Above The 24-HOUR AVERAGE OF 387,000. The Lower Price Turned Into A Support Level, Attracing More Buying Interest.
Following the DIP, ICP Enrored A Recovery Phase, Climbing Back Toward Resistance Levels AROUND $ 4.83- $ 4.84. Trading Volume Topped 26,000 Units at Key Intervals, Far Surpassing The Hourly Average of 5,500.
PRICE ACTION CONFIRMED A BREAKOUT CONFIGULATION, CONSOLIDATION IN THE THE $ 4.82- $ 4.83 Band Giving Way to A Rapid Push Town $ 4.84.
ICP’s abity to attract Sustaned Buyer Interest at Support Levels May Strengten the Case for Continued Bullish Momentum, with Potential Upside Targets Emerging at FiBonaci.
Technical Analysis
- ICP Traded Within A $ 0.24 Corridor (5% Range) Between $ 4.60 and $ 4.84.
- Heavy Selling AT $ 4.74– $ 4.60 On Monday Produced Volume Spikes of 827,105 and 684,909 UNITS.
- Support Firmly Establissed at $ 4.60 with Strong Buying Interest.
- Price Recovered Steadily to $ 4.84 by 10:00 UTC on Tuesday.
- Resistance Identified AT $ 4.84.
- Breakout ConfirMed by Volume Surges of 26,939 and 17,946 UNITS.
- AVERAGE HURLY TURNOVER OF 5,500 WAS SIGNFICANTLY EXCEEDED DURING THE RECOvery.
- Pattern Suggests Continued Momentum with Potential to Rette Higher Resistance Levels.
Disclaimer: Parts of this Article Were Generated with the Assistance from Ai Tools and Review by Our Editorial Team to Enseure Accucy and Adherence to Our Standards. For more information, See Coindesk’s Full Ai Policy.
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