Web Laptop Protocol (ICP) drifted downward over the previous 24 hours, shedding 2.35% to commerce at $5.18.
The token moved inside a $0.23 band between $5.14 and $5.40, reflecting a 4% swing that underscored the persistent volatility shaping present market circumstances, in accordance with CoinDesk Analysis’s technical evaluation information mannequin.
An advance to the resistance degree of $5.40 was shortly met with distribution as ICP settled again towards its established help hall round $5.17–$5.20. Buying and selling noticed substantial accumulation exercise, with volumes surpassing 643,000 models at these ranges.
ICP subsequently slipped to $5.19 with repeated resistance at $5.24 forming a descending channel sample. Quick bursts of exercise, such because the 34,000-unit spike at 13:54 UTC, had been unable to reverse the momentum, leaving the token consolidating at its lows.
ICP might stay beneath strain if help at $5.17 fails to carry, which market individuals shall be observing for any rebound indicators as institutional and retail merchants reassess their positioning.
Technical Evaluation
- Value vary spanned $5.14–$5.40, a 4% variance throughout the 24-hour session.
- Resistance emerged at $5.40 on August 18 at 22:00 UTC with quantity of 294,177 models.
- Assist consolidated at $5.17-$5.20, with early morning volumes exceeding 643,000 models.
- Repeated resistance at $5.24 throughout late-session buying and selling confirmed a descending channel.
- Heavy promoting occurred between 13:32–13:46 UTC, with a 34,396-unit spike at 13:54 UTC.
- Quantity confirmed a declining sample, suggesting market exhaustion.
Disclaimer: Components of this text had been generated with the help from AI instruments and reviewed by our editorial workforce to make sure accuracy and adherence to our requirements. For extra info, see CoinDesk’s full AI Coverage.
