ICP Gains 2.8% as Demand Picks Up Again

ICP Climbs 2.8% as Traders Defend Key Support at $4.60

Internet Computer Protocol (ICP) gained 2.8% in the past 24 hours, outpacing the broader CoinDesk 20 index’s 1.9% rise, as strong buying interest helped the token rebound from intraday lows.

ICP traded in a 5% band between $4.60 and $4.84, according to CoinDesk Research. The sharpest decline came late Monday, when prices slipped from $4.74 to $4.60 within an hour. Trading volume spiked to 827,000 units during the drop—more than double the daily average of 387,000. The decline, however, established a strong support base, triggering fresh demand.

The recovery phase saw ICP climb back toward resistance near $4.83–$4.84, with trading activity again accelerating. Hourly turnover surged to more than 26,000 units compared with a typical 5,500, signaling renewed momentum. Consolidation around $4.82–$4.83 ultimately gave way to a breakout push toward $4.84.

Market analysts suggest that ICP’s ability to absorb selling pressure at lower levels strengthens the bullish case. If buying persists, Fibonacci extension levels above $4.85 could serve as the next upside targets.

Technical Snapshot

• ICP fluctuated in a $0.24 range (5%) from $4.60 to $4.84.
• Heaviest selloff occurred Monday evening, with volumes of 827,105 and 684,909 units.
• Support confirmed at $4.60, attracting heavy demand.
• Rebound lifted price to $4.84 by 10:00 UTC Tuesday.
• Resistance remains at $4.84, with breakout validated by volume spikes of 26,939 and 17,946 units.
• Hourly turnover far exceeded the 5,500-unit average.
• Setup indicates room to retest higher resistance levels if momentum continues.

About The Author

ctleditor

See author's posts