After the sharp drop at noon, $ICP rose for three consecutive full hours, and the 15:00 close was already above the opening price of the hour when the drop occurred. This was more than just a brief bounce—the price did recover the losses from that stretch. But at 16:00, it turned lower again, interrupting the steady recovery.

I acknowledge the recovery earlier. For now, I’m shifting to a neutral, wait-and-see stance rather than treating one pause as the start of another sharp decline. 3.307 was the opening price during the sharp drop at noon, and the latest full-hour close has fallen back below it. A move back above that level would show the recovery is still intact; only a full-hour close below the sharp-drop low of 3.238 would invalidate all the ground recovered over these past few hours. The key thing to check here is whether the price can hold after reclaiming the level—not to write an ending for the rebound in advance.