ICP Springs Higher After Hitting Lows, Buoyed by Firm $4.80 Support

ICP Shows Strength Amid Market Swings, Holds Key Support at $4.80

Internet Computer (ICP) displayed solid resilience over the past 24 hours, navigating a turbulent trading session marked by global market uncertainty. The token dipped as low as $4.78 before rebounding to nearly $4.85, ultimately closing the day at $4.7771, down just 0.98%.

Throughout the session, the $4.80 support level proved critical, repeatedly cushioning declines and serving as a launchpad for upward moves. Analysts at CoinDesk Research highlighted this zone as a pivotal point traders are watching for potential upside if market sentiment turns more positive.

Macro forces remain firmly in play across crypto markets. Geopolitical tensions continue to unsettle investors, yet bitcoin’s climb back above $109,000 during the Asian trading session sparked fresh activity in altcoins like ICP—even if price moves stayed relatively muted.

ICP’s ability to bounce back from intraday lows despite volatility suggests growing confidence among traders and leaves room for a potential breakout if broader conditions align.

Technical Highlights:

• ICP traded in a 2.54% range, moving between $4.78 and $4.90 from July 6 at 15:00 UTC to July 7 at 14:00 UTC.
• Resistance at $4.90 was tested twice on July 6 during evening hours.
• Strong support at $4.80 was confirmed multiple times, acting as a crucial pivot.
• Between 13:05 and 14:04 UTC on July 7, ICP rose 0.62% from $4.81 to $4.84, indicating bullish momentum.
• After consolidating between 13:05 and 13:20 UTC, a breakout began at 13:21 UTC.
• A sharp rally between 13:57 and 13:59 UTC pushed ICP to $4.85, representing a nearly 2% jump.
• Significant volume spikes occurred at 13:41–13:43 UTC (66,623 ICP traded) and 13:57–13:58 UTC (14,170 ICP traded), suggesting possible institutional interest.