ICP Dips 2.4%, Despite Recovering From the $5 Threshold

Re-write this article 6/8/2026

Internet Computer falls amid volatile trading, but rebounds off $4.97 lows with elevated volume-backed

Internet Computer’s native token (ICP) shed 2.4% over the last 24 hours, retreating from $5.21 to $5.08, even as it showed intraday strength.

After hitting a low of $4.97, the token rebounded as much as 3.2% to reach a local high of $5.13 before consolidating around $5.06–$5.08, according to CoinDesk Research’s technical analysis data model. The session’s 3.52% swing highlighted both bearish pressure and renewed interest from buyers near key support levels.

The strongest recovery occurred during the 05:00 UTC window, when volume surged to 524,622 tokens, 56% above the 24-hour average of 337,329. This influx of activity marked a turning point as bulls stepped in between $4.97 and $5.00, with bears pushing back at the $5.09-$5.13 resistance cluster.

ICP advanced from $5.02 to $5.06, gaining 0.80% on increased volume, during the U.S. morning, with a climb above $5.04 suggesting ongoing momentum.
Technical Analysis

Net 24-Hour Movement: -2.4% from $5.21 to $5.08
Intraday Recovery: +3.2% from $4.97 to $5.13
Key Support: $4.97–$5.00 saw repeated buying
Resistance Zone: $5.09–$5.13 capped rally attempts
Volume Surge: 524,622 units at 05:00 UTC, 56% above average
Breakout: Cleared $5.03–$5.04 resistance
New Floor: $5.04 forms as latest support level