ICP Drops as Breakdown Below $5.00 Extends Multi-Session Weakness

ICP continued its downward trend, falling 5.57% to $4.8119 as it broke below the pivotal $5.00 mark, a level that has served as a key pivot point in recent months. The token's decline reflects a larger unwinding from its November highs and came with elevated trading volume, which spiked to almost double its daily average during this movement. While prices reached lows of $4.69, attempts to stabilize around $4.70 were noted, indicating potential support in that range. Despite numerous efforts to reclaim the $5.00 level, which is now seen as a significant resistance, the trend appears to have shifted towards short-term consolidation. Continued support at $4.69–$4.70 will be crucial to avoid further retracement in upcoming sessions, while immediate resistance remains at $4.75 and the critical $5.00 threshold looms overhead.

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