【$ICP Signal】Hold Cash Waiting for Weakness in Deep Imbalance

$ICP Continues to consolidate weakly after breaking below EMA20, with deep imbalance indicating heavy selling pressure.

🎯Direction: Hold Cash (NoPosition)

Market Analysis: The price is oscillating around 2.312, but the order book depth is severely imbalanced (7.97%), with the ask wall starting at 2.313 and significantly thicker than the bid wall. This is a typical institutional selling pressure structure. The 4H buy ratio remains below 0.5, indicating active selling dominates.

Hardcore Logic: Although the funding rate is negative (-0.0486%), the open interest (OI) remains stable rather than increasing, ruling out a short squeeze. RSI (38.79) is not oversold, but the price is under dual pressure from EMA20 (2.3849) and EMA50 (2.5004), confirming a clear downtrend.

The key point lies in the depth data: the thin buy side (only 507 at 2.313) cannot provide effective support. Any slight sell order could trigger a rapid price decline to the lower liquidity zone (2.28-2.30). Currently, there is no clear support structure or evidence of buy absorption, making long positions very risky.

Trade here 👇 $ICP

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