ICP Rebounds Above $2.92 to Reverse Some Mid-Week Losses

ICP rose 1.04% to $2.94, recovering from earlier losses this week as traders returned and buying activity picked up. The increase followed a drop below key short-term averages, but the token regained stability, closing above the $2.92 resistance, indicating that traders are buying the dip. The price fluctuated from around $2.80 to an intraday high of about $2.98, with trading volume surging 20% above its weekly average, peaking at 1.39 million units. This rebound coincides with an overall improvement in sentiment across significant layer-1 networks and is supported by ICP's strong transaction throughput. Technically, maintaining a price range between $2.89 and $2.92 could facilitate a move toward the $2.98–$3.00 zone, where previous rallies have occurred. A close above $3.00 would represent a complete turnaround for the week and might reinstate bullish momentum as November approaches.

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