Internet computer protocol (ICP) demonstrated resilience over the past 24 hours, staging a rally that lifted the token nearly 3% to $ 5.13.
The move uncovered a V-shaped improvement that began with an overnight stay to support levels around $ 4.98, with a large number of purchase activities grabbing, according to Coindesk Research’s technical analysis data model.
After dipping from $ 5.07, the ICP consolidated within $ 4.98- $ 5.00 zone, establishing a base reinforced at trading volume of 372,179 units, essentially above average levels. This accumulation phase marked the turning point as the purchased pressure mounted through the early session.
Momentum built steadily before momentility culminated with a decisive outbreak late in the period. ICP rose through several resistance barriers to touch $ 5.13, with the final advance driven by a 272,186 unit volume tip. Resistance that had previously formed near $ 5.11 was violated, suggesting that sellers lost control of the almost term trend.
Cryptocurrencies such as ICP appear to draw fresh interest as alternative asset classes get traction. Recovery and heavy accumulation at support levels can place ICP for additional gains, with the next technical target in sight around $ 5.18 based on Fibonacci expansion levels.
Technical analysis
- Handelskorridor: $ 4.98 to $ 5.13 representing a 3% range.
- Recovery pattern: V-shaped rebound from $ 5.07 dropped to $ 4.98- $ 5.00 support.
- Volume support: 372,179 units for $ 4.98, well above daily average.
- Resistance: formed about $ 5.11 but broken under the final wave.
- BREAKOUT: Prices continued at $ 5.13 on 272,186 unit volume.
- Momentum: Signals strong interest and setup for $ 5.18 goals.
Disclaimer: Parts of this article were generated with the help of AI tools and reviewed by our editorial team to ensure accuracy and compliance with Our standards. For more information, see Coindesk’s full AI policy.
