ICP Stages Comeback: $4.80 Support Level Proves Unshakable Amid Market Volatility
Internet Computer (ICP) defies gravity as bulls dig in at critical support.
Key level holds—but for how long?
The $4.80 floor became a battleground today, with ICP bouncing hard after early sell-offs. Traders watched the level like hawks—another testament to crypto's obsession with round numbers. (Funny how psychological barriers matter more than fundamentals sometimes.)
No fancy technicals here—just old-fashioned supply and demand playing out in real time. The rebound suggests someone's accumulating at this price... or maybe the shorts got greedy. Either way, the market's voting with its wallet.
Next stop? If this support cracks, bears will feast. Hold above it, and we're looking at a potential springboard toward higher highs. Classic crypto—where every chart pattern feels like a make-or-break moment for humanity.
Bonus jab: Meanwhile, traditional finance still thinks 'blockchain' is a type of Scandinavian furniture.
Technical Analysis Highlights
- ICP traded in a 2.54% range, with prices fluctuating between $4.78 and $4.90 from July 6 at 15:00 UTC to July 7 at 14:00 UTC.
- Strong resistance at $4.90 was tested twice during evening hours on July 6.
- Support at $4.80 was validated by repeated bounces and acted as a launch point for upward moves.
- Between 13:05–14:04 UTC on July 7, ICP rallied 0.62%, from $4.81 to $4.84, confirming bullish momentum.
- Price consolidated between 13:05–13:20 before a breakout began at 13:21 UTC.
- A sharp rally between 13:57–13:59 lifted ICP to $4.85, marking a nearly 2% jump.
- Volume surged during 13:41–13:43 (66,623 ICP) and again at 13:57–13:58 (14,170 ICP), suggesting possible institutional buy-ins.
Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
