Participation behind ICP's rally is weakening: while the price rose 14.4% in 24 hours, spot volume fell 33.2% and the number of transactions declined 28.3%.
Although buyers are slightly ahead, this drop in activity shows that the move is not being supported by fresh demand. As price rises while volume and transaction count decrease, it raises the risk of an unconfirmed short-term momentum and exhaustion.
The key point to watch is whether spot volume and transaction count recover while the price remains elevated.
Although buyers are slightly ahead, this drop in activity shows that the move is not being supported by fresh demand. As price rises while volume and transaction count decrease, it raises the risk of an unconfirmed short-term momentum and exhaustion.
The key point to watch is whether spot volume and transaction count recover while the price remains elevated.