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

ICP has seen a continuation of its decline as it fell 5.57% to $4.8119, marking an extended pullback from its November highs. The price dropped below the crucial $5.00 level, which has acted as a pivot point in recent months. Trading volume increased significantly, nearly doubling the daily average as the market focused on support levels near $4.70. There were attempts to stabilize around $4.70 with some recovery, but ICP remains under pressure, reflecting a bearish shift in market sentiment. The immediate resistance is now near $4.75, and the key support around $4.69 to $4.70 will play a critical role in determining whether ICP can avoid deeper retracement in upcoming sessions.

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