Internet Computer Climbs Toward $5.40 as Volume Confirms Bullish Momentum
Internet Computer (ICP) extended its upward movement on Thursday, gaining 2.29% over the past 24 hours to trade at $5.37, buoyed by surging volume and strong technical support.
According to CoinDesk’s technical analysis model, ICP traded within a 4.94% range—between a low of $5.16 and a high of $5.42—amid elevated volatility. The most notable action came shortly after midnight UTC, when volumes spiked to 3.13 million units, before doubling to 6.93 million an hour later, far exceeding the 24-hour average of 876,000 units.
This activity helped solidify support between $5.24 and $5.27, as buyers repeatedly stepped in at those levels. Meanwhile, sellers clustered around the $5.39 to $5.42 zone, creating a clear resistance ceiling.
ICP edged higher from $5.36 to $5.38 in the morning hours, driven by concentrated buying between 09:50 and 09:55 UTC, when trading volumes exceeded 39,000 units—more than three times the hourly average. The move confirmed $5.33–$5.34 as a new intraday support zone, suggesting bulls are gaining control.
Despite mixed sentiment across the broader crypto market, ICP’s chart shows signs of institutional interest. Analysts point to its ability to defend key levels and build higher lows, along with renewed optimism in the network’s development roadmap, including recent performance upgrades and Bitcoin integration.
Technical Highlights:
- 24H Price Range: $5.16–$5.42
- Support Levels: $5.24–$5.27 and $5.33–$5.34 (intraday)
- Resistance Zone: $5.39–$5.42
- Key Volume Surges:
- 00:00 UTC – 3.13M units
- 01:00 UTC – 6.93M units
- 09:50–09:55 UTC – 27.8K to 39.9K units
- Outlook: A confirmed breakout above $5.40 could open the door to further gains, pending continued volume support.
