ICP's Current Market Position
ICP sits near a critical reclaim level as momentum cools following a rapid late-October surge. Traders observe the $6.60 field, which served as a multi-month resistance and now passes as a battleground. Breaking above the $6.60 might lead to the next resistance band around the region of $9.50-10.00.
ICP has entered a very important trading zone following a sharp rebound and pullback after reaching recent highs. Traders are now awaiting signals in the market on whether the asset can resume decisive ground that it had previously achieved.
ICP Approaches a Crucial Market Pivot
ICP, as of writing, trades between $5.70-$6.35 in the current session, reflecting moderate swings and steady liquidity. The price hovers near $6.05 after a controlled pullback from recent highs. This pattern shows cautious behavior as traders evaluate the next directional phase.
Crypto Tony noted that bulls want the price back over $6.60 for continuation. That level sits at the mid-range resistance that capped movement for months. The chart also shows repeated failures to scale that ceiling during the previous sideways structure.
Market activity on the 24-hour chart mirrors this tension. ICP briefly pushed above $6.20 before dropping sharply, suggesting traders remain sensitive to rapid changes. However, the recovery above $6.00 signals renewed interest as the market stabilizes.
A Rebound After Multi-Week Lows
ICP spent months inside a broad consolidation phase, producing lower highs and compressed swings through late summer. That structure broke down in early October and drove the asset toward $3, marking fresh local lows. The move ended the previous range and opened the door for stronger volatility.
Late October brought a decisive shift. ICP staged a sharp rebound that carried it through former resistance levels without hesitation. The price moved above $6.60 and approached the next major resistance near $9.50–$10.00. This rapid climb suggested short covering and rising speculative demand.
The move did not hold, but the retreat was controlled. ICP returned toward $6.60, the level that now acts as a contested pivot. This pattern aligns with common retests found after strong breakouts, offering a potential base for future advances if momentum returns.
Market Focus Turns to the $6.60 Reclaim
The $6.60 zone remains the defining battleground. A sustained move above this level may allow the market to pursue the upper band near $9.50–$10.00. That zone previously produced a strong rejection and left a clear wick on the chart, suggesting supply remains active there.
If ICP stays below $6.60, the market may consolidate. This range could form a mid-level base or bull flag, giving the recent rally room to settle without compromising the broader structure built in October. Such patterns often appear after vertical expansions.
Failure to maintain nearby support may draw ICP toward the $5.50–$5.20 area. This zone served as a brief consolidation shelf during the rally and may attract buyers seeking lower entries. The next move depends on how the market responds as it continues to test the $6.60 threshold.