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

Internet Computer (ICP) is currently trading in a narrow range following a failed breakout attempt at the $6.66 resistance level, which is proving to be a significant barrier. The token remains confined between a support level of $6.05 and the resistance at $6.66. Recently, ICP experienced an uptick in trading volume, peaking at 4.27 million tokens, a figure 68% above the usual average, but this surge did not lead to a successful breach of resistance. The subsequent decrease in activity, including moments without trades, highlights a current state of equilibrium rather than a shift in market sentiment. This pattern follows a sharp decline from earlier highs above $9.80, with traders now awaiting further volume-driven movement to determine the future direction of ICP’s price. The range-bound trading behavior reflects broader trends observed in the cryptocurrency market over the past year.

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