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ICP Spikes to $6.08 Then Reverses — Watch for Consolidation
I watched ICP spike to $6.08 and then reverse sharply, highlighting unusually volatile intraday behavior.
That quick rejection at higher levels suggests momentum exhaustion and increased short-term downside risk. I’m waiting for clearer support and lower volatility before committing more capital.
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Analysis
The rally to $6.08 followed by an abrupt sell-off indicates sellers overwhelmed buyers at that level. Elevated volume and wide swings point to momentum exhaustion and a higher probability of near-term...
Recommendation
Watch price action and avoid initiating new long positions until ICP forms a clear base or reclaims resistance as support; holders should consider tightening stops or trimming exposure, while short-te...
Disclaimer
The Analysis and recommendations provided are for informational purposes only. Any investment decisions should be made at your own risk. Past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.