【$ICP Signal】Short Position + Rebound Exhaustion Selling

$ICP Rebounded to 2.49 on the 4-hour chart but faced resistance, forming a clear lower high structure. The current price has broken below the short-term moving average cluster and is testing the 2.38 support.

🎯 Direction: Short (NoPosition)

Logic: 1) Price is declining but open interest (OI) remains stable, indicating no long liquidation, suggesting that the main force is offloading at the high of the rebound. 2) The 4H candlestick shows that each rebound high is suppressed by stronger selling volume (Taker Volume), and buying absorption has failed. 3) Funding rates remain negative, but the price has not rebounded strongly, indicating that bears are in control but bulls have weak willingness to absorb. If the volume-supported breakdown below the 2.38-2.40 range occurs, it will confirm a continuation of the downtrend. Currently, there is no clear bullish structure; it’s advisable to wait for a better risk-reward ratio.

Trade here 👇 $ICP

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