Internet Computer
moved higher in tandem with a broad-based crypto market surge, climbing 1.89% $5.5354 after peaking at around $5.65 early on Wednesday. As capital rotated into altcoins following gains in bitcoin and ether, ICP followed suit with a 7% upswing, driven by early bullish momentum and strong support at the lower end of its range.
The 24-hour window spanning July 15 at 15:00 UTC to July 16 at 14:00 UTC saw ICP fluctuate within a $0.39 range. Volume during this rally exceeded 964,000 units, indicating robust participation from both large and small buyers as the altcoin sector gained steam.
This consolidation reflects similar dynamics seen across Layer 1 tokens, which are seeing profit-taking after multi-session gains but maintaining higher support zones. ICP’s ability to hold steady in a tightening range mirrors the broader market’s pause after a strong leg up.
If bullish sentiment across the crypto market continues, ICP may challenge the $5.60–$5.66 resistance band again, supported by steady inflows and its strong positioning in the decentralized computing narrative.
Technical Analysis Highlights
- ICP climbed 7% from $5.28 to $5.66 before consolidating in a $0.39 range.
- Early rally supported by 964K+ volume, matching broader altcoin strength.
- Resistance firmed at $5.64–$5.66 with two rejection attempts.
- Price stabilized in a $5.50–$5.58 channel for much of the session.
- Support formed around $5.52; buyers consistently defended this level.
- ICP rebounded from $5.50 to $5.53 in the final hour on 19.8K+ volume.
- Market structure remains bullish above $5.50 amid macro crypto strength.
- Current price: $5.5354, up 1.89% on the day.
