It has gained about 3% in the past 24 hours and is trading around $3.013 after climbing to $3.03.
According to CoinDesk Research’s technical analysis data model, the rise continues a short-term recovery that began above $2.80, with prices gradually building higher lows before breaking through the psychological threshold of $3.00.
The move above $3.00 was accompanied by an increase in trading activity, suggesting a resurgence in trading activity as ICP challenges an area that has recently acted as both support and resistance.
Focus now turns to this level as near-term support. Sustained holding could open room for further testing of the $3.05 to $3.10 area, which has seen selling interest previously. Conversely, a break below $3 would shift attention to the $2.95 area, which has recently acted as a base during the pullback.
For now, ICP’s ability to remain above $3 keeps the short-term bias constructive, with traders watching volume and subsequent moves to gauge whether this move will develop into a broader push higher or move into range trading.
Disclaimer: Portions of this article were generated with the help of artificial intelligence tools and reviewed by our editorial team for accuracy and compliance Our standards. For more information, see CoinDesk’s complete artificial intelligence policy.
