ICP Climbs 3% as V-Shaped Recovery Signals Renewed Buying Interest
Internet Computer Protocol (ICP) rebounded sharply over the past 24 hours, rising nearly 3% to $5.13, marking a classic V-shaped recovery and indicating renewed investor activity.
The token initially dropped to support around $4.98, where strong buying activity helped establish a base. Consolidation in the $4.98–$5.00 zone, with 372,179 units traded—well above average—set the stage for a decisive upswing. ICP then surged past resistance at $5.11, boosted by a 272,186-unit volume spike, suggesting that buyers had regained control of the short-term trend.
Analysts note that ICP’s recovery highlights increasing interest in altcoins and positions the token for potential further gains. Technical analysis points to a near-term target of $5.18, based on Fibonacci extensions.
Key Technical Metrics:
- Intraday Range: $4.98–$5.13 (3% swing)
- Support Volume: 372,179 units at $4.98
- Resistance: Breached at $5.11
- Breakout Volume: 272,186 units
- Momentum: Strong accumulation indicates potential continuation toward $5.18
ICP’s performance underscores growing investor confidence in altcoins and highlights the significance of accumulation at key support levels in driving short-term upward momentum.
