ICP Pushes Higher as Strong Volume Secures Bullish Momentum

Internet Computer Protocol (ICP) extended its upward trajectory implicit the past 24 hours, rising 2.29% from $5.25 to $5.37.

The token’s terms enactment unfolded wrong a $0.26 corridor betwixt $5.16 and $5.42, representing a 4.94% trading spread, arsenic traders navigated pronounced intraday volatility, according to CoinDesk's method investigation information model.

The astir notable moves came successful the aboriginal hours of Aug. 8, erstwhile measurement surged to 3.13 cardinal units astatine midnight and past doubled to 6.93 cardinal astatine 01:00 UTC, some figures good beyond the 24-hour mean of 876,000. These inflows consistently met bids successful the $5.24-$5.27 zone, reinforcing a enactment base. On the upside, sellers concentrated astir $5.39–$5.42.

ICP subsequently precocious from $5.36 to $5.38, notching a 0.37% push. This ascent was underpinned by elevated volumes betwixt 09:50 and 09:55 UTC, ranging from 27,887 to 39,904 units, much than triple the hourly baseline. The rally confirmed $5.33-$5.34 arsenic an intraday floor, with a breakout supra $5.36 absorption hinting astatine the imaginable for further gains.

Despite the broader market’s mixed sentiment, ICP’s illustration operation has strengthened. The coin’s quality to clasp cardinal enactment levels, combined with accrued volume, underscores ongoing organization information and increasing assurance successful the network’s semipermanent roadmap, which includes caller show upgrades and integration with Bitcoin functionality.

Technical Analysis Highlights

• 24-hour terms range: $5.16-$5.42 (4.94% spread).
• Support repeatedly confirmed astatine $5.24–$5.27.
• Resistance concentrated astatine $5.39-$5.42.
• Midnight measurement spike: 3.13M units vs 876K average.
• 1:00 AM measurement spike: 6.93M units.
• Breakout supra $5.36 absorption with volumes of 27,887-39,904 units.
• New intraday enactment formed astatine $5.33-$5.34.
• Strong buying involvement during consolidation phases.

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