ICP Bounces Off Sub-$5 Lows—But Still Down 2.4% as Bulls Struggle for Momentum
Internet Computer (ICP) claws back from bargain-bin territory—only to face immediate resistance. The crypto’s 2.4% dip today proves even dead-cat bounces need conviction.
Sub-$5 levels triggered buy orders, but the rebound lacks fireworks. Traders eyeing this 'recovery' should ask: Is this a trend reversal or just another pitstop before lower lows?
Bonus jab: Another day, another 'bullish reversal' that smells more like institutional bagholders shuffling paper. The only thing dropping faster than ICP’s price? Analysts’ dignity when defending it.
Technical Analysis
- Net 24-Hour Movement: -2.4% from $5.21 to $5.08
- Intraday Recovery: +3.2% from $4.97 to $5.13
- Key Support: $4.97–$5.00 saw repeated buying
- Resistance Zone: $5.09–$5.13 capped rally attempts
- Volume Surge: 524,622 units at 05:00 UTC, 56% above average
- Breakout: Cleared $5.03–$5.04 resistance
- New Floor: $5.04 forms as latest support level
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.
