5 hours ago
Internet Computer (ICP) showed signs of resilience successful a turbulent 24-hour window, climbing arsenic precocious arsenic $5.6781 earlier consolidating conscionable beneath the $5.50 mark. Despite late-session selling, the token remains poised for imaginable betterment amid ongoing volatility.
Starting July 13 astatine 17:00 UTC, ICP began a dependable ascent, reaching its league precocious of $5.6781 aboriginal connected July 14. This rally was underpinned by a important summation successful volume, topping 800,000 units during its astir assertive upward limb betwixt 02:00 and 05:00 UTC. Bulls concisely tested absorption supra $5.67, a level that had historically capped upside momentum.
However, aggravated selling unit acceptable successful soon aft the peak, driving prices downward successful a accelerated reversal. During the hr ending astatine 16:05 UTC connected July 14, the token dipped 1% to $5.45, decisively breaking done the $5.48 enactment threshold. A measurement spike adjacent 50,000 units during the 15:48-15:49 UTC interval further confirmed heightened bearish activity.
Despite the pullback, ICP has recovered near-term stableness successful a little trading transmission betwixt $5.44 and $5.46.
Technical Analysis Highlights
- ICP traded wrong a $0.28 scope from $5.40 (low) to $5.68 (high), marking a 5% intraday spread.
- Price spiked from $5.47 to $5.68 betwixt 02:00–05:00 UTC connected July 14, amid 800K+ volume.
- Resistance hardened adjacent $5.67–$5.68, curbing bullish continuation attempts.
- Final-hour diminution from $5.50 to $5.45 showed a swift 1% retreat from 15:06–16:05 UTC.
- Key enactment astatine $5.48 was breached connected precocious volume, signaling imaginable bearish continuation.
- Notable sell-off occurred betwixt 15:48–15:49 UTC with astir 50K units traded.
- Consolidation scope has formed betwixt $5.44–$5.46 arsenic of July 14 astatine 16:35 UTC.
Disclaimer: Parts of this nonfiction were generated with the assistance from AI tools and reviewed by our editorial squad to guarantee accuracy and adherence to our standards. For much information, see CoinDesk's afloat AI Policy.
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