ICP Price Action Supported by Key Technical Levels
Internet Computer (ICP) has recorded a 3% gain, trading near $5.09, as broader interest in altcoins begins to strengthen. The move comes after ICP found stability around its support zone at $4.80, signaling renewed buying momentum in the market.
Over the past weeks, ICP has experienced a mix of sharp declines and consolidations, struggling to push past its resistance range between $5.40 and $5.60. However, the latest rebound suggests that bulls are attempting to reestablish control.
“ICP is showing resilience above $4.80, which has acted as a key demand zone. If this level continues to hold, we could see a retest of the $5.40 resistance area,” BITX market analyst observed.
The technical chart highlights that ICP recently broke out of a downward channel in June, triggering a recovery phase. Despite facing repeated rejections near $5.60, the token has managed to maintain higher lows over time, pointing toward gradual accumulation. “The current setup indicates that investors are cautiously optimistic. Sustaining momentum above $5 could provide the confidence needed for a stronger rally,” .
Key levels to watch include immediate support around $4.80 and a stronger base near $4.40, which could act as a buffer in case of market pullbacks. On the upside, resistance remains at $5.40–$5.60, a zone that has consistently capped gains in recent weeks.
The rebound also comes as altcoin sentiment improves, with traders diversifying beyond Bitcoin in search of short-term gains. “If the altcoin market continues to attract liquidity, ICP could benefit from increased exposure, particularly if volumes confirm this recent bounce,” BITX expert highlighted.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.