Internet Computer’s native token, ICP, ended the day down 2.4%, falling from $5.21 to $5.08, even as it showed strong signs of a recovery during volatile trading.
The token briefly dipped to $4.97 early in the session, but quickly bounced back, climbing 3.2% to a local high of $5.13 before settling into a tight consolidation zone between $5.06 and $5.08. According to CoinDesk Research’s technical model, the 3.52% swing illustrated both bearish pressure and aggressive buying near key support levels.
A significant spike in volume occurred at 05:00 UTC, when over 524,000 ICP tokens were traded—56% above the daily average of 337,329. This surge in activity coincided with the recovery off the $4.97–$5.00 support zone, where bulls stepped in with conviction. However, resistance held firm between $5.09 and $5.13, capping any sustained upside.
ICP gained 0.8% during the U.S. morning hours, rising from $5.02 to $5.06 on elevated volume. The move above $5.04 suggests some short-term bullish momentum, though a clear breakout has yet to materialize.
Key Technical Highlights
- 📉 Daily Price Change: -2.4% (from $5.21 to $5.08)
- 📈 Intraday Bounce: +3.2% (from $4.97 to $5.13)
- 🛡️ Support Zone: Strong buying near $4.97–$5.00
- 🧱 Resistance Cap: $5.09–$5.13 blocked further gains
- 🔊 Volume Spike: 524,622 tokens traded at 05:00 UTC (56% above average)
- ✅ Breakout Level: Cleared minor resistance at $5.03–$5.04
- 📊 New Support Floor: $5.04 showing signs of stability
While ICP closed lower on the day, its bounce off the $5.00 level—combined with elevated volume—signals possible near-term strength. Traders will be watching closely to see if the token can reclaim and hold above $5.13 in the coming sessions.
