ICP Slides 5.5% as Bulls Lose Momentum After Volatile Session

💡 DMK Insight

The recent climb to nearly $4.30 indicates strong bullish sentiment, but the subsequent decline raises red flags for traders. This volatility suggests a potential resistance level around $4.30, which could trigger profit-taking or short-selling as traders reassess their positions. If the token fails to reclaim this level, we might see a deeper pullback, possibly testing support levels below $4.00. Keep an eye on trading volume; a spike could signal either renewed buying interest or panic selling. Also, watch for broader market trends—if major indices or correlated assets show weakness, it could exacerbate downward pressure on this token. Here’s the thing: while the initial surge might seem promising, the inability to maintain momentum could lead to a shakeout. Traders should be prepared for increased volatility in the coming days, especially if the token approaches key support levels. Monitor the next 24-48 hours closely for any signs of reversal or continuation patterns.