ICP Price Bounces Back After Testing $5.29 Support Amid Heavy Volatility
Main Idea
ICP experienced significant volatility, bouncing back from a support level of $5.29 after institutional buying activity, with resistance observed at $5.63.
Key Points
1. ICP traded in a volatile 5% range between $5.29 and $5.63 over the past 24 hours.
2. Institutional buyers stepped in near $5.32-$5.35, triggering a midday rebound.
3. Trading volume surged to 976,480 units at 12:00 UTC, nearly double the daily average.
4. Resistance near $5.63 capped upside momentum, while support was found at $5.32-$5.35.
5. ICP briefly dipped back to $5.43 early in the U.S. morning as sellers re-emerged.
Description
Internet Computer Protocol (ICP) endured a volatile 24 hours of trading, swinging between $5.29 and $5.63, a 5% intraday range that highlighted both selling pressure and opportunistic accumulation, CoinDesk Research's technical analysis data model shows. The token fell as low as $5.29, establishing a key support zone between $5.32 and $5.35 , where market data shows notable spikes in volume, a pattern often associated with institutional entry points. After bottoming out, ICP staged a decisive re...
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