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ICP Tests December Support as Liquidity Wall Draws Focus

A dense bid wall now defines the next move at December support.

Overview

  • ICP traded in a tight $3.60–$3.70 range on Dec. 11 after a multiday slide brought it to a $3.48–$3.55 support cluster.
  • Trend signals remain weak with price below the 9- and 20-day EMAs, a negative MACD and an RSI near oversold, though selling pressure appears to be easing.
  • Order-book data show sizable bids below current levels and notable ask walls overhead, setting near-term support and resistance.
  • Analysts say a hold at support could spark a move toward mid-range resistance, while a clean break below the bid wall could invite a retest of November lows.
  • CoinDesk reported a 5% drop to $3.4945 on Dec. 10 with lows near $3.4782, roughly 2.6 million tokens in volume and about 8% intraday volatility.