Internet computer (ICP) Advanced 2.98% over the past 24 hours to trade with $ 4,9487 and break past the critical $ 4.90 resistance and form a base for further upside towards the most important psychological $ 5.00 level.
The rally reflects not only a strong technical momentum, but also growing traction in the protocol’s ecosystem – especially in Bitcoin -integrated defi.
The total supply of CKBTC (The chain-key Bitcoin) On the ICP has risen from 254 to 349 tokens since June 9, an increase of 37% of less than a month, a post of X highlighted. This marks a Uptick in Bitcoin flow in ICP’s Defi Infrastructure that offers ensures rapid interoperability.
On the price action page, the ICP traded within a range of $ 0.21 between $ 4.73 and $ 4.93 with a clear upward bias. Momentum intensified with volume bursts and higher low structure. The wave from $ 4.90 to $ 4.93 over 10: 41-11: 40 UTC window was powered by institutional accumulation, peaking at 59,999 units at 11:29 UTC, well above the daily average.
The ICP had supported $ 4.73, and a successful gene test of $ 4.90 at 1 p.m. 10:52 it confirmed as a new support floor. With structural strength in place, growing ecosystem consumption and defi-driven demand from CKBTC, ICP occurs well positioned to challenge the next upside milestone.
Technical analysis highlights
- ICP rose 3% over 24 hours and traded between $ 4.73 and $ 4.93.
- Support held at $ 4.73 and formed the base for the rally.
- Breakout over $ 4.90 was confirmed at. 10:59 UTC with strong follow -up.
- Volume waves at. 11:23 (33,830 units)11:28 (27,673 units)and 11:29 (59,999 units) Indicate accumulation.
- A withdrawal to $ 4.90 at. 10:52 UTC was successfully defended before fresh heights.
- Using the ecosystem grows when the CKBTC supply of ICP increases 37% since June 9 per year. X.
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