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

ICP rose 1.04% to $2.94, recovering from earlier losses of the week as buying activity increased above key support levels. The volume surged by 20% over its weekly average, indicating renewed interest among traders. After dropping below significant short-term averages in previous sessions, ICP regained momentum, closing above the $2.92 resistance level, suggesting a 'buy the dip' strategy. ICP hit higher lows at $2.80, $2.89, and $2.92 before reaching an intraday high near $2.98. This rebound reflects a broader positive sentiment across major layer-1 networks, with traders anticipating short-term strength. The blockchain's performance in transaction throughput compared to competitors has also built confidence. Technical analysis shows support now established between $2.89 and $2.92, which could facilitate further testing of the $2.98–$3.00 range, potentially reigniting bullish momentum into November.

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