Internet Computer Pulls Back After Testing Resistance but Maintains Strong Developer Activity
Internet Computer (ICP) saw a sharp reversal after reaching a resistance level of $5.76, dropping to $5.59 amid increased selling pressure.
During the 24-hour period, ICP’s price fluctuated between $5.28 and $5.76, an 8.3% intraday range, based on CoinDesk’s technical data. Buyers pushed the price near the top of this range, but sellers regained control, driving the token lower with rising volume.
Following the peak at $5.76, ICP declined steadily over 42 minutes to $5.66, signaling a clear rejection at resistance. Earlier in the session, a strong move from $5.28 to $5.72 was supported by heavy volume, with 897,725 tokens traded — well above the daily average. Despite the initial rally, momentum faded as resistance held firm.
Despite the price pullback, ICP remains fundamentally strong. The token leads all blockchain projects in GitHub development activity, surpassing competitors such as Chainlink and Filecoin, according to Santiment’s recent rankings.
This leadership in development points to sustained ecosystem growth and ongoing commitment from the ICP team, even as market participants remain cautious at recent price levels. Analysts see the price decline as a result of technical resistance combined with broader market uncertainty.
Technical Highlights
- Price range of $5.28 to $5.76, reflecting an 8.3% intraday move
- Resistance at $5.76 capped upside momentum with a visible rejection
- Support established at $5.28 amid early accumulation
- Volume spike of 897,725 tokens during the rebound from the intraday low
- Price declined from $5.76 to $5.66 over a 42-minute period
- $5.66 emerged as near-term support following the pullback
- Trading volume declined near session close, indicating a pause in activity
