ICP Finds Support Around $4.8 After Tumultuous Trading

ICP Holds $4.8 Support Amid Volatile Trading and Institutional Activity

Internet Computer Protocol (ICP) traded with high volatility over the past 24 hours, swinging between $4.77 and $4.94 before stabilizing near $4.8. The session saw both aggressive buying and strong selling, reflecting active institutional participation.

ICP reached a session high of $4.94 around midnight, with trading volumes spiking above 600,000 units between 14:00–16:00 UTC—almost double the daily average. However, the rally gave way during the European morning as price fell to $4.78, indicating persistent distribution pressure and cementing resistance near $4.93–$4.94.

The broader crypto market echoed ICP’s turbulence. The CoinDesk 20 Index moved within a 3% range, despite volume surges above 400,000 units, underscoring ongoing strain across digital assets even as ICP defended key support levels.

Technical Highlights:

Trading range: $4.77–$4.94 (3.4% volatility)
Resistance: $4.93–$4.94 zone
Support: $4.77 confirmed
Recent rally: $4.78 → $4.83, aided by volumes above 25,000 units
Trend: Ascending channel formed via breaks at $4.79, $4.80, $4.82

ICP’s ability to maintain support near $4.8 amid broader market swings points to growing institutional interest and positions the token for potential follow-through if buying momentum continues.