ICP Gains Ground Amid Crypto Rally, Consolidates Above Key $5.50 Threshold

Internet Computer’s (ICP) price action continues to reflect strengthening altcoin momentum, holding above the $5.50 level following a 7% upswing.

The token climbed from $5.28 to $5.66 between July 15 at 15:00 UTC and July 16 at 14:00 UTC, before settling at $5.5354 — up 1.89% on the session. The move was driven by broader capital rotation into mid-cap tokens as bitcoin and ether consolidate near recent highs.

Trading volumes topped 964,000 units, with two breakout attempts near the $5.64–$5.66 resistance zone stalling. ICP then entered a tight consolidation band between $5.50 and $5.58 as buyers defended key levels.

In the final hour, the token bounced from $5.50 to $5.53, backed by a 19.8K volume spike, suggesting continued accumulation. Support held steady at $5.52, reinforcing the bullish setup for a potential breakout.

Key Metrics:

• Price Range: $5.28 → $5.66 (+7%)
• Closing Price: $5.5354 (+1.89%)
• Support Level: $5.52
• Resistance Zone: $5.64–$5.66
• Final Hour Action: $5.50 → $5.53 on 19.8K volume
• Total Volume: 964K+

Market Takeaway:
With solid support at $5.52 and institutional flows appearing at key levels, ICP remains well-positioned for a renewed push toward resistance. A confirmed breakout above $5.66 could open the door to higher targets if broader market sentiment holds.