staged a recovery from Thursday to Friday, rising 1.04% to $2.94, as the token reversed a portion of the week’s earlier declines.
After falling below key short-term averages in previous sessions, ICP regained its footing, closing back above the $2.92 resistance in a sign that traders bought the dip, according to CoinDesk Research’s technical analysis data model.
The token advanced early on Thursday, forming higher lows of $2.80, $2.89, and $2.92 before hitting an intraday high near $2.98. Trading activity recovered markedly, with volume rising 20% above its seven-day average and peaking at 1.39 million units around 10:00 GMT.
The rebound aligns with improving sentiment across major layer 1 networks, where traders appear to be positioning for near-term strength after a volatile October. ICP’s underlying fundamentals have also bolstered confidence, with the blockchain maintaining the lead in transaction performance compared to other major networks.
Technically, the recovery reinforces the asset’s broader uptrend structure, with support now established between $2.89 and $2.92. Holding this range could serve as a launching pad for another test of the $2.98-$3 zone, a level that previously sparked stronger rallies. A close above $3 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 artificial intelligence tools and were reviewed by our editorial team to ensure accuracy and compliance. our standards. For more information, see CoinDesk’s full AI policy.
