ICP Roars Back to $5.50: Morning Rally Defies Midday Chaos
Internet Computer (ICP) staged a violent comeback today—shrugging off wild midday swings to reclaim the $5.50 zone. Traders got whiplash, but the bulls won the battle. For now.
The Rollercoaster Play-by-Play
Pre-market momentum lit the fuse. ICP ripped upward at dawn, only to face brutal profit-taking by lunch. Classic crypto. The rebound? Almost as sharp as the drop—proving this asset still packs volatility grenades in its back pocket.
Why This Matters
$5.50 isn’t just psychological resistance—it’s a liquidity magnet. Break it cleanly, and sidelined money might finally FOMO in. Fail? Cue the ‘I told you so’ tweets from Bitcoin maxis.
Meanwhile, Wall Street ‘experts’ still can’t decide if ICP is Web3’s future or a glorified meme. Good thing the chart doesn’t care about their flip-flopping. On-chain data shows accumulation—smart money’s playing the long game while retail panics over 15-minute candles.
The Bottom Line
ICP’s proving it can punch above its weight. Today’s recovery screams resilience, but let’s not throw parades yet—this is crypto, where ‘support levels’ vanish faster than a hedge fund’s ethics.
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.
