Internet computer protocol (ICP) Viewed resilience over the past 24 hours, 2.8 percent increased, while the wider Coindesk 20 -Index added only 1.9 percent.
The token swung over a $ 0.24 ribbon, equivalent to a 5% swing moving between $ 4.60 and $ 4.84, according to Coindesk Research’s technical analysis data model.
The most serious decline occurred between 20:00 and 21:00 on September 1st, as ICP slipped from $ 4.74 to $ 4.60, as trade volume increased to more than 827,000 units, well above the 24-hour average of 387,000. The lower price turned into a support level and attracted more buying interest.
After DIP, the ICP entered a restore phase and climbed back against resistance levels around $ 4.83- $ 4.84. Trade volume topped 26,000 units with key intervals and surpassed the hourly an average of 5,500.
Price action confirmed a breakout configuration, with consolidation in $ 4.82- $ 4.83 band giving way to a quick push against $ 4.84.
ICP’s ability to attract sustained buyer interests at the support levels can strengthen the case for continued bullish momentum, with potential upside goals that emerge on Fibonacci extensions over $ 4.85.
Technical analysis
- ICP acted within a corridor of $ 0.24 (5% range) between $ 4.60 and $ 4.84.
- Heavy Sales to $ 4.74- $ 4.60 On Monday, volume tips produced at 827,105 and 684,909 units.
- Support firmly established at $ 4.60 with strong purchase interest.
- Price restored steadily to $ 4.84 with 10:00 AM Tuesday.
- Resistance identified at $ 4.84.
- Breakout confirmed by volume waves of 26,939 and 17,946 units.
- The average hour of revenue of 5,500 was significantly exceeded during the recovery.
- Pattern still suggests momentum with the potential to gene test higher resistance levels.
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.
