Internet Computer (ICP) maintained gains above $5.50 on Wednesday, following a 7% surge driven by improved sentiment across the altcoin market.
The token climbed from $5.28 to $5.66 between July 15 at 15:00 UTC and July 16 at 14:00 UTC, buoyed by inflows into mid-cap crypto assets amid bitcoin and ether consolidation. ICP ended the 24-hour session up 1.89% at $5.5354.
Trading activity was strong throughout the rally, with volume exceeding 964,000 units. Two breakout attempts near the $5.64–$5.66 resistance zone failed to gain traction, leading to a consolidation phase between $5.50 and $5.58.
Despite short-term resistance, ICP showed resilience. A rebound from $5.50 to $5.53 in the final hour, backed by nearly 20,000 in volume, pointed to ongoing buy-side interest. Technical support around $5.52 held firm, with market structure remaining bullish above that level.
Analysts view ICP’s price stability as reflective of a broader shift in market tone, with altcoins regaining investor focus as capital rotates from bitcoin.
Key Data Points
- Price Range: $5.28 → $5.66 (+7%)
- Session Close: $5.5354 (+1.89%)
- Support Zone: $5.52
- Resistance Zone: $5.64–$5.66
- Consolidation Band: $5.50–$5.58
- Final Hour Move: $5.50 → $5.53 on 19.8K volume
- Total Volume: 964,000+ units
Outlook
ICP remains positioned for further upside if resistance near $5.66 is broken with volume confirmation. For now, holding above $5.50 keeps the short-term bias tilted to the bullish side.
