🚨 ICP DROPS -16.26% — LAYER 1 MELTDOWN CONTINUES 🚨
$2.23. That's the price of one of crypto's most controversial Layer 1s right now.
📉 The Breakdown:
Price: $2.230 (-16.26% in this move, -26.64% in 7 days)
Key Level: Smashed BELOW MA60 at 2.311
Volume: 62K – ABOVE average. This is distribution, not accumulation.
🔍 What's Happening?
This isn't a dip. This is a breakdown.
When a major Layer 1 loses its MA60 with above-average volume and double-digit losses across every timeframe, the message is clear: sellers are in full control.
⚠️ Can It Bounce?
Maybe. But dead cat bounces are for traps. Until ICP reclaims $2.31, this chart screams RISK.
🎯 For Traders:
Short bias below 2.31.
Next targets: $2.10, then $2.00.
Only consider long on a strong reclaim of 2.31 with volume.
Sometimes the best trade is no trade. This might be one of those times. 👀
