Why $ICP is still struggling ❔🔴
Despite the network activity, ICP’s price remained within a descending channel after failing to hold $3.50 two weeks earlier. The decline took the token to a low of $2.50.
The MACD also moved deeper into negative territory over two consecutive weeks, reinforcing the bearish momentum.
Together, the channel and MACD suggested that sellers retained control despite the improvement in network activity. The divergence showed that higher throughput had yet to coincide with a sustained price recovery.
If selling persisted, $2.30 could become the next support test. A move out of the descending channel would offer an early sign that bearish pressure might be easing.
#icp
Despite the network activity, ICP’s price remained within a descending channel after failing to hold $3.50 two weeks earlier. The decline took the token to a low of $2.50.
The MACD also moved deeper into negative territory over two consecutive weeks, reinforcing the bearish momentum.
Together, the channel and MACD suggested that sellers retained control despite the improvement in network activity. The divergence showed that higher throughput had yet to coincide with a sustained price recovery.
If selling persisted, $2.30 could become the next support test. A move out of the descending channel would offer an early sign that bearish pressure might be easing.
#icp
