ICP Climbs With Broader Crypto Rally, Holds Gains Above $5.50

Internet Computer (ICP) moved higher successful tandem with a broad-based crypto marketplace surge, climbing 1.89% $5.5354 aft peaking astatine astir $5.65 aboriginal connected Wednesday. As superior rotated into altcoins pursuing gains successful bitcoin and ether, ICP followed suit with a 7% upswing, driven by aboriginal bullish momentum and beardown enactment astatine the little extremity of its range.

The 24-hour model spanning July 15 astatine 15:00 UTC to July 16 astatine 14:00 UTC saw ICP fluctuate wrong a $0.39 range. Volume during this rally exceeded 964,000 units, indicating robust information from some ample and tiny buyers arsenic the altcoin assemblage gained steam.

After peaking, ICP transitioned into a sideways consolidation signifier betwixt $5.50 and $5.58. Two failed attempts to interruption supra the $5.64–$5.66 absorption portion confirmed short-term exhaustion, according to CoinDesk Research's method investigation information model. The token remained good bid adjacent $5.52, wherever caller request consistently emerged.

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This consolidation reflects akin dynamics seen crossed Layer 1 tokens, which are seeing profit-taking aft multi-session gains but maintaining higher enactment zones. ICP’s quality to clasp dependable successful a tightening scope mirrors the broader market’s intermission aft a beardown limb up.

If bullish sentiment crossed the crypto marketplace continues, ICP whitethorn situation the $5.60–$5.66 absorption set again, supported by dependable inflows and its beardown positioning successful the decentralized computing narrative.

Technical Analysis Highlights

• ICP climbed 7% from $5.28 to $5.66 earlier consolidating successful a $0.39 range.
• Early rally supported by 964K+ volume, matching broader altcoin strength.
• Resistance firmed astatine $5.64–$5.66 with 2 rejection attempts.
• Price stabilized successful a $5.50–$5.58 transmission for overmuch of the session.
• Support formed astir $5.52; buyers consistently defended this level.
• ICP rebounded from $5.50 to $5.53 successful the last hr connected 19.8K+ volume.
• Market operation remains bullish supra $5.50 amid macro crypto strength.
• Current price: $5.5354, up 1.89% connected the day.

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