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Reverse after testing the level of $ 5.75 in the early hours of August 11, succumbing to the sales pressure that lowered the token to $ 5.43.
ICP seemed to be in a regular consolidation model between $ 5.65 and $ 5.67 before a rally propels the token to its $ 5.75 peak. However, the momentum went out while sellers intervene strongly after 11:00 am UTC. The negotiation volume increased to 965,595 units – almost double the daily average of 487,064 – because the distribution intensified around the resistance zone of $ 5.61, indicating profits and institutional sale, according to the Technical Analysis Data model.
Buyers then defended the level of support of $ 5.44, triggering a rebound from $ 5.46 to $ 5.54. The climb was fed by a peak volume with more than 75,000 units between 1:41 p.m. and 13:48, more than quadruple the average hourly and pointing towards a potential institutional accumulation after the sale.
Despite the recovery, ICP remains in the red at the time of the editorial staff. However, the strong defense of the main levels of support and the rupture through the short -term resistance areas alludes to resilience, leaving the door open to bullish follow -up if the purchase of the pressure persists.
Technical analysis
- The price range lasted $ 0.31, marking a spacing of 5% between $ 5.75 and $ 5.43.
- Lateral consolidation from $ 5.65 to $ 5.67 preceded the escape at $ 5.75.
- An inversion after the accelerated peak after 11:00 am UTC, led by a large sale.
- The PIC volume at 965,595 units overshadowed the daily average of 487,064.
- Resistance formed at $ 5.61 during the cutting -edge sales activity.
- Support held a company at $ 5.44 before the rebound started.
- Recovery pushed the resistance zones through $ 5.47 and $ 5.52.
- The volume has reached 75,000 units, exceeding the average of 18,500 hours.
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