ICP Rebounds Toward $5.50 After Early Morning Surge and Midday Volatility
Internet Computer
Starting July 13 at 17:00 UTC, ICP began a steady ascent, reaching its session high of $5.6781 early on July 14. This rally was underpinned by a significant increase in volume, topping 800,000 units during its most aggressive upward leg between 02:00 and 05:00 UTC. Bulls briefly tested resistance above $5.67, a level that had historically capped upside momentum.
However, intense selling pressure set in shortly after the peak, driving prices downward in a rapid reversal. During the hour ending at 16:05 UTC on July 14, the token dipped 1% to $5.45, decisively breaking through the $5.48 support threshold. A volume spike near 50,000 units during the 15:48-15:49 UTC interval further confirmed heightened bearish activity.
Despite the pullback, ICP has found near-term stability in a lower trading channel between $5.44 and $5.46.
Technical Analysis Highlights
- ICP traded within a $0.28 range from $5.40 (low) to $5.68 (high), marking a 5% intraday spread.
- Price spiked from $5.47 to $5.68 between 02:00–05:00 UTC on July 14, amid 800K+ volume.
- Resistance hardened near $5.67–$5.68, curbing bullish continuation attempts.
- Final-hour decline from $5.50 to $5.45 showed a swift 1% retreat from 15:06–16:05 UTC.
- Key support at $5.48 was broken on high volume, signaling potential bearish continuation.
- Notable sell-off occurred between 15:48–15:49 UTC with nearly 50K units traded.
- Consolidation range has formed between $5.44–$5.46 as of July 14 at 16:35 UTC.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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