ICP Holds Strong: $4.72 Base Sets Stage for Explosive Rally Ahead
Internet Computer (ICP) defies market jitters, locking in $4.72 as its springboard for the next leg up. Technicals scream accumulation—traders ignoring this setup might regret it more than a 2022 Luna bagholder.
Why $4.72 Matters
The level isn't just psychological support—it's where ICP's weekly candles have consistently bounced since May. Each retest strengthens the floor, with bulls treating dips like a Black Friday sale.
Liquidity Hunt On
Market makers currently cluster sell orders around $5.30, but thin order books above suggest a breakout could trigger algorithmic buying frenzies. Shorts betting against ICP's structure risk getting vaporized.
Macro Tailwinds?
With the SEC's latest ETF rejection fueling decentralized infrastructure narratives, ICP's Web3 stack suddenly looks less 'crypto zombie' and more 'sleeping giant.' Just don't tell the VCs who dumped their tokens last quarter.
Technical Analysis Highlights
- ICP posted a 1% daily gain after rebounding.
- The $4.72 level emerged as a clearly defined support zone following high-volume accumulation.
- Elevated buy-side activity signaled strong conviction among traders during the recovery.
- Short-term resistance levels were tested and overcome without significant retracement.
- The market structure remains favorable for potential bullish continuation in the coming days.
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.
