$ICP /USDT 4-Hour Chart Analysis
The 4-hour chart of ICP/USDT shows a notable recovery in progress. The current price stands at $5.571, reflecting an 8.41% increase and a recent 3.32% gain within the timeframe. After a significant earlier decline, the price has formed a series of strong green candles, indicating bullish momentum and a break above the $5.50 psychological level. This uptrend is supported by a volume spike, with the latest data showing 764,038K, suggesting increased market interest.
Short-term performance is positive, with a 13.85% gain over the past 7 days and 11.33% over 30 days. However, the longer-term outlook remains challenging, with a 57.99% drop over 180 days and 51.90% over the past year, highlighting a broader downtrend that the current rally is attempting to reverse.
Key levels to watch include the $5.87 resistance (near the 24-hour high), where a breakout could signal further upside. Support appears around $5.00-$5.097 (24-hour low). The volume SMA aligns with price movements, reinforcing the current bullish trend. Traders should monitor for sustained volume and a clear break above $5.87 to confirm the reversal, while a drop below $5.00 could indicate a return to bearish pressure.
