Internet Computer Protocol’s original token, ICP, advanced 5% to $ 5.57 over the past 24 hours, strengthened by a mixture of strong technical structure and important basic upgrades.
The token traded within a bandwidth of $ 0.36 and found aggressive support near $ 5.21 during 19:00 Tous UTC on July 30, when the volume was spiked to 1.43 million tokens, more than three times 24-hour average of 476,829 units, according to Coindesk’s technical analysis data model.
Upward momentum caught up as the price steadily climbing through successive higher low lownesses to form a solid bullish channel before the resistance began to cap winnings about $ 5.58.
DFINITY’s recent Launch of Internet Computer 2.0, which includes tools that allow everyone to build applications using natural languages prompt, could open web3 development for non-engineering users and help differentiate ICP further in a crowded LAG-1-ecosystem.
DFINITY has burned over 1 million ICP tokens in just five months, reducing the total supply and signaling of long-term obligation to value production. The twin narratives about AI-enhanced utility and token defeat appear to gain traction among institutions seeking exposure to infrastructure-oriented crypto assets.
Technical analysis
- $ 5.21 confirmed as key support by 1.53 million. Tokens traded during 19:00 Recovery Surge.
- $ 5.58 marked session top and temporary barrier to continuation.
- Rising low down from $ 5.21 to $ 5.50 Signal Strong Bullish Construction.
- Institutional accumulation supported by volume spikes well above average.
- 0.18% increase from $ 5.56 to $ 5.57 during 09: 05–10: 04 UTC, validating consolidation at elevated levels.
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