ICP Slides 2.4%, Despite a Bullish Recovery From Sub-$5 Price Range

Internet Computer’s token (ICP) experienced a 2.4% pullback over the past 24 hours, falling from $5.21 to $5.08, despite showing notable intraday resilience.

After a brief dip to $4.97, ICP recovered by as much as 3.2%, reaching a local peak of $5.13 before consolidating between $5.06 and $5.08. According to CoinDesk Research’s technical analysis, the session’s price swing of 3.52% reflected both bearish pressure and a notable influx of buying interest around key support levels.

The strongest recovery came during the 05:00 UTC period, with trading volume surging to 524,622 tokens, a 56% increase over the average volume of 337,329. This increase in activity marked a clear reversal, as buyers emerged near the $4.97–$5.00 support zone, while resistance capped advances near the $5.09–$5.13 range.

During the U.S. morning session, ICP climbed from $5.02 to $5.06, gaining 0.80% on higher volume, signaling that upward momentum could persist if the $5.04 level holds as support.

Technical Summary

24-Hour Price Change: -2.4%, from $5.21 to $5.08
Intraday Recovery: +3.2%, from $4.97 to $5.13
Key Support Zone: $4.97–$5.00, where buying activity was strong
Resistance Area: $5.09–$5.13, capping the rally
Volume Surge: 524,622 tokens at 05:00 UTC, 56% above the average
Breakout: Cleared resistance in the $5.03–$5.04 range
New Support Level: $5.04, forming a new floor

ICP’s bounce from key support levels indicates continued buyer interest despite broader market headwinds. The next challenge for the token will be overcoming the resistance near $5.09–$5.13, but if volume continues to build, further gains could be on the horizon.