Internet Computer (ICP) Rallies Over 4% on Rising Volume and Developer Growth
Internet Computer (ICP) climbed to $5.19, recording a 4.3% gain in the 24 hours leading up to Thursday. The token advanced from $4.96 to $5.16, touching an intraday high of $5.19, supported by surging trading activity and strong developer engagement. This performance placed ICP among the day’s top blockchain infrastructure gainers.
The price jump was most pronounced between 18:00 and 21:00 UTC on July 9, when ICP spiked from $4.95 to $5.19. Trading volume surged to 886,937 tokens at 19:00 UTC — more than double the typical 24-hour average of 388,671 tokens, based on data from CoinDesk Research’s technical analysis. The rally has set up a new resistance zone near $5.22, a level traders are watching for a potential breakout continuation.
On the downside, support levels have held steady between $4.90 and $4.93, with further support forming in the $5.11 to $5.14 range. Consolidation above $5.15 signals solid market structure and suggests that ICP could soon retest resistance levels.
Beyond market action, ICP is also seeing significant activity from developers. According to Santiment, the project averaged 431.3 daily GitHub events in June, outpacing other notable networks like NEAR and Filecoin. This high level of development points to sustained growth and innovation in the ICP ecosystem.
Key Technical Takeaways
- Price range: $4.96 to $5.19 (+4.3%), with a $0.28 swing
- Volume spike: 886,937 tokens traded at 19:00 UTC — over double the daily average
- Primary support: $4.90–$4.93
- Secondary support: $5.11–$5.14
- Resistance zone: $5.18–$5.22, a critical area for further gains
- Developer activity: 431.3 daily GitHub events, signaling robust ecosystem development
