staged a recovery from Thursday to Friday, rising 1.04% to $2.94 as the token reversed some of the earlier week’s decline.
After falling below key short-term averages in previous sessions, ICP regained its footing and closed back above the $2.92 resistance in a sign traders are buying the dip, according to CoinDesk Research’s technical analysis data model.
The token moved early on Thursday, forming higher lows of $2.80, $2.89 and $2.92 before reaching an intraday high near $2.98. Trading activity picked up sharply, with volume rising 20% above its seven-day average, peaking at 1.39 million units around 10 p.m. 10:00 GMT.
The rebound is consistent with improved sentiment across major tier-1 networks, where traders appear to be positioning for near-term strength after a volatile October. ICP’s underlying fundamentals have also strengthened trust, with blockchain maintaining the lead in transaction throughput compared to other major networks.
Technically, the rally reinforces the asset’s broader rising trend structure, with support now established between $2.89 and $2.92. Holding this range could serve as a starting point for another test of the $2.98-$3.00 zone — a level that previously triggered stronger rallies. A close above $3.00 would mark a full reversal of the previous week’s losses and could reintroduce bullish momentum heading into November.
Disclaimer: Portions of this article were generated with the help of AI tools and reviewed by our editorial staff to ensure accuracy and compliance with our standards. For more information, see CoinDesk’s full AI policy.
