“Following a Sharp Morning Surge and Turbulent Midday Trading, ICP Targets $5.50.”

ICP Eyes Breakout as Institutional Volume Fuels Price Action

Internet Computer (ICP) is showing signs of strength, climbing to $5.6781 before settling just under $5.50 in the past 24 hours. Despite a late-session pullback, the token remains poised for further upside amid persistent volatility.

The rally began on July 13 at 17:00 UTC, with ICP steadily gaining ground and peaking early on July 14. Trading volumes surged above 800,000 units between 02:00 and 05:00 UTC, propelling the price upward. Buyers briefly pushed through resistance near $5.67, a level that has repeatedly capped gains in previous sessions.

However, selling pressure quickly emerged after the peak, triggering a sharp reversal. In the hour ending at 16:05 UTC on July 14, ICP slipped 1% to $5.45, breaking below crucial support at $5.48. A volume spike of nearly 50,000 units between 15:48 and 15:49 UTC highlighted the intensified selling.

Even with this retracement, ICP has established a near-term consolidation range between $5.44 and $5.46.

Technical Highlights

• Trading Range: $5.40 – $5.68, reflecting a 5% intraday fluctuation
• Rally Phase: Price moved from $5.47 to $5.68 on significant 800K+ volume between 02:00–05:00 UTC
• Resistance Zone: Firm resistance around $5.67–$5.68
• Late Pullback: Price declined from $5.50 to $5.45 during the final hour of trading
• Support Breach: $5.48 level broke on high volume, signaling potential continued downside
• Heavy Selling: Notable spike of nearly 50,000 units traded in a single minute at 15:48–15:49 UTC
• Current Range: Price consolidating between $5.44 and $5.46 as of late trading on July 14

Traders remain focused on whether ICP can break through resistance toward $5.70, potentially opening the door for further gains. Conversely, losing the lower support range could signal deeper corrections ahead.