Internet computer protocol (ICP) endured a turbulent 24 hour session and swung through a $ 0.22 corridor representing a 4% area. After testing support for $ 4.83, the token mounted a strong rally to reach $ 5.05 at 06:00 UTC before he fell back.
This movement confirmed $ 4.83 as a crucial accumulation zone where volume rose to 348,793 units, according to Coindesk Research’s technical analysis data model.
Rally wobbled to $ 5.05, where concentrated distribution created a fixed ceiling. The phrase accelerated, starting with consolidation near $ 4.97 before a late push for $ 4.99 at. 14:00 UTC. The sales pressure then overwhelmed the market and drove the ICP down to $ 4.93 within minutes.
At the time of writing, ICP traded just under $ 4.90, 3% below its intraday height of $ 5.05.
Revenue spiked vigorously during this interval, with more than 170,000 units implemented between 14:01 and 14:03, suggesting systematic liquidation or stop-loss performance.
In addition to technical, ICP’s momentum reflects ongoing ecosystem development. On September 4, the network achieved its ignition milestone, enabling large language models (Llms) To run natural on-chain.
The upgrade allows developers to build AI-driven decentralized applications (DAPPS)Including those that can generate smart contracts directly on ICP blockchain. The long-term vision is to create a “self-writing internet” where even non-technical users can implement DAPPs using natural language inputs.
Technical analysis
- ICP traded in a $ 0.22 corridor between $ 4.83 support and $ 5.05 resistance.
- Strong accumulation confirmed at $ 4.83, supported by volume above average of 348,793 units.
- Rally topped with $ 5.05 before strong sales arose. A sharp reversing experienced prices from $ 4.99 to $ 4.93 within minutes.
- Volume exceeded 170,000 units during 14: 01–14: 03, signaling systematic liquidation.
- New support formed for $ 4.93 marking a potential turning to future sessions.
- Resistance remains anchored to $ 5.05, the main threshold of a sustained outbreak.
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.
