ICP Roars Back to $5.50: Morning Rally Defies Midday Chaos
Internet Computer (ICP) staged a textbook crypto comeback today—blasting past resistance after a volatile morning ride.
The Rebound Playbook:
1. Early surge: Buyers piled in at dawn, pushing ICP toward $5.50 against thin liquidity.
2. Midday trap: Paper hands got shaken out when whales dumped positions—classic 'fakeout before breakout' action.
3. Final act: Institutional algos (or maybe just one determined retail trader with leverage) reclaimed the $5.50 level by afternoon.
Why it matters: This isn't just another altcoin pump. ICP's infrastructure plays—decentralized cloud, blockchain-based computing—are finally getting real traction beyond crypto Twitter hype cycles.
Watch the $6.00 level next. Break that, and suddenly the 'fallen angel' of 2021's crash starts looking like a phoenix. Just don't tell the SEC—they still think cloud computing means storing files on AOL discs.
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.
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.
