【$ICP Signal】Short Position + Weak Rebound Meets Resistance

$ICP Weak rebound after decline, encountering resistance at the 4-hour supply zone. Taker sell orders dominate, and the rebound lacks follow-up buying.

🎯 Direction: Short

Price is oscillating weakly in the 2.41-2.50 range, repeatedly failing to break above 2.50, indicating strong supply above. The 4-hour candlestick shows continuous weakening of buying power (Buy/Sell Ratio drops from 0.51 to 0.49), and Taker Volume is net selling. Open interest remains stable while the price rebounds, suggesting non-institutional buying, more likely short covering or trap. Although the funding rate is negative, its absolute value is small, not indicating a strong short squeeze expectation. Currently, the price is close to the order book’s sell wall (2.466-2.485). Without increased buying volume to break through, a pullback to support levels is highly probable.

Trade 👇 $ICP

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