Internet Computer (ICP) Advances as Consolidation Holds Below $6.66 Resistance Price

Internet Computer (ICP) is currently trading within a narrow range, having failed a breakout attempt above the key resistance level of $6.66. The token is caught between support at $6.05 and resistance at $6.66, showing a lack of momentum after a recent volume spike, where ICP experienced a 68% increase above the average volume during the resistance test. Following this spike, trading activity significantly diminished, with minutes of no trades recorded, suggesting a temporary equilibrium in the market. Despite a slight price increase of 2.25% in the past 24 hours, ICP has not managed to escape the established trading corridor that has restricted its movement since a major decline from highs above $9.80 earlier this month. There remains a cautious sentiment among traders as they anticipate a volume-driven breakout from this consolidation phase.

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