Internet Computer (ICP) Rally to $6.08 Rejected — Monitor for Confirmation
I saw ICP spike to $6.08 but then give back gains in a sharp reversal, highlighting pronounced intraday volatility.
I believe the move looks like a failed breakout: bulls briefly pushed price higher but lack of follow-through allowed sellers to step in and push it lower.
I’m watching price action for confirmation — I won’t add size until ICP either reclaims and sustains above the recent high or shows a clean retest of a defined support with lower volatility.
Analysis
Recommendation
Watch price action closely. Avoid initiating new longs until ICP sustains above the recent high or retests support cleanly; manage risk with tight stops and size accordingly.
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.