ICP Price Recovers After Testing $5.29 Support Amid Market Volatility

Overview

Internet Computer Protocol (ICP) has witnessed a turbulent 24 hours, oscillating between $5.29 and $5.63, indicating significant trading activity. Institutional buyers notably engaged around the $5.32-$5.35 range, contributing to a midday bounce back.

Trading volume reached almost 1 million units, surpassing daily averages.

Key Events

ICP earlier dropped to as low as $5.29, marking an essential support level.
Market data suggested that this range frequently draws institutional buyers, leading to increased trading volumes.

ICP Chart

After hitting its lowest point, ICP saw a crucial turnaround around 12:00 UTC as trading volume surged to 976,480 units, suggesting that buyers were re-entering the market.

Technical Analysis

Range: The price fluctuated $5.29 – $5.63.
Support Areas: Noteworthy buying interest at $5.32–$5.35.
Resistance Level: Resistance was observed near $5.63.

Disclaimer: Some content in this article may have been produced with AI tools while ensuring adherence to editorial standards.