ICP Defies Market Chaos: Rockets Back From $5.29 Support Test in Wild Price Swings
Internet Computer (ICP) just pulled off a Lazarus act—bouncing hard off its $5.29 support level despite crypto markets doing their best impression of a drunken rollercoaster.
Volatility as a feature, not a bug
Traders got whiplash as ICP carved out a bottom at $5.29 before surging back—proving once again that in crypto, 'support' either means 'springboard' or 'trap door' depending on which side of the trade you're on.
The comeback kid
While traditional finance nerds were busy adjusting their spreadsheets, ICP did what crypto does best: ignored fundamentals and moved violently in both directions. The rebound suggests either genuine accumulation or another classic 'pump before the dump'—because what's crypto without a little existential doubt?
Just another Wednesday in the digital casino.
Technical Analysis
- Range: $5.29–$5.63 over the 23-hour period, a 5% spread.
- Support Zone: $5.32–$5.35 showed repeated buying interest.
- Resistance: $5.63 capped upside attempts.
- Volume Spike: 976,480 units traded at 12:00 UTC, nearly double the daily average.
- Breakdown Point: Loss of $5.48 support triggered a brief late-session dip.
- Recovery Phase: $5.37 to $5.52 surge on high volume marked institutional buying.
- Late Selling: Dip from $5.45 to $5.43 as resistance held.
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.
