Bullish Momentum Builds for ICP Amid Elevated Trading Activity
Internet Computer Eyes $5.40 as Bullish Volume Builds Support Base
Internet Computer (ICP) extended its upward momentum over the past 24 hours, rising 2.29% from $5.25 to $5.37, as large volume spikes reinforced key support and pointed toward a potential breakout above $5.40.
Trading within a 4.94% daily range between $5.16 and $5.42, ICP saw its heaviest activity shortly after midnight UTC. Volume surged to 3.13 million units and then jumped again to 6.93 million by 1:00 AM—both well above the 876,000-unit daily average—signaling strong institutional interest.
Buyers consistently stepped in between $5.24 and $5.27, building a solid support floor. Resistance remains concentrated at the $5.39–$5.42 zone, where sellers have been active.
A fresh push from $5.36 to $5.38 was confirmed during the late morning hours, supported by 27,000–39,000 unit trades within a five-minute window, helping to establish $5.33–$5.34 as intraday support.
Despite a mixed broader market, ICP’s price structure is strengthening. Analysts note that consistent demand near key levels, combined with growing network traction and integration with Bitcoin, could pave the way for continued upside.
Key Technical Takeaways:
- 24H Range: $5.16–$5.42
- Support Zones: $5.24–$5.27, $5.33–$5.34
- Resistance: $5.39–$5.42
- Major Volume Spikes:
- 12:00 AM: 3.13M units
- 01:00 AM: 6.93M units
- 09:50–09:55 AM: 27K–39K units
- Momentum Outlook: Sustained volume above $5.36 may fuel a breakout toward $5.50 and beyond.
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