ICP Executes V-Shaped Rebound, Gains 3% on Elevated Trading Volumes
Internet Computer Protocol (ICP) staged a strong V-shaped recovery over the past 24 hours, climbing nearly 3% to $5.13, signaling renewed buying interest in the altcoin.
The token initially retreated to support near $4.98, where heightened trading activity indicated robust accumulation. Following a dip from $5.07, ICP consolidated in the $4.98–$5.00 zone, exchanging 372,179 units, well above typical daily volumes, forming a foundation for the subsequent rally.
ICP gained momentum through the session and broke decisively above multiple resistance levels, surging past $5.11 to reach $5.13. A final-volume spike of 272,186 units underscored strong buying pressure and suggested sellers were losing control of the near-term trend.
Market analysts note that alternative assets like ICP are attracting renewed attention, and the token’s heavy accumulation and breakout may set it up for further gains. Fibonacci extension analysis points to a potential short-term target near $5.18.
Key Technical Highlights:
- Trading Range: $4.98–$5.13, a 3% intraday swing
- Recovery Pattern: V-shaped rebound from $5.07 low to $4.98–$5.00 support
- Volume Support: 372,179 units at $4.98, above daily average
- Resistance: Broken at $5.11 during final surge
- Breakout: Reached $5.13 on 272,186-unit volume spike
- Momentum: Strong buying pressure suggests further upside potential toward $5.18
ICP’s performance illustrates growing investor confidence in altcoins and highlights the market’s appetite for assets showing strong technical resilience and accumulation at key support levels.
