ICP is showing a bottom-buying signal. Currently trading at $3.08, it has risen 0.66% against the overall market trend which is flat. On the technical side, the MACD is in a bullish state, providing technical support for a subsequent rebound. More notably, on-chain activity shows that whale wallets have recently increased their holdings by 3.2%, and retail investors are also starting to follow suit. This synchronized entry by institutions and retail investors often indicates a shift in market sentiment.

From the supply perspective, 40% of ICP is staked, and exchange supply continues to shrink, further reducing the tradable chips in the market and supporting price stability. The key short-term support level is $3.00—maintaining this level keeps the rebound potential alive. Once the resistance at $3.20 is broken, the next target can be set at $3.40 and above. Overall, the current risk-reward ratio is relatively favorable.