CoinDesk 2025-08-12 15:42:54

ICP Price Bounces Back After Testing $5.29 Support Amid Heavy Volatility

Internet Computer Protocol (ICP) endured a volatile 24 hours of trading, swinging between $5.29 and $5.63, a 5% intraday range that highlighted both selling pressure and opportunistic accumulation, CoinDesk Research's technical analysis data model shows. The token fell as low as $5.29, establishing a key support zone between $5.32 and $5.35 , where market data shows notable spikes in volume, a pattern often associated with institutional entry points. After bottoming out, ICP staged a decisive reversal beginning around 12:00 UTC, when trading volume surged to 976,480 units, nearly double the daily average. This push propelled prices from $5.37 to $5.52, reclaiming technical ground lost earlier in the session. Still, resistance near $5.63 capped upside momentum. ICP briefly dipped back to $5.43 early in the U.S. morning as sellers re-emerged, breaking minor support at $5.48 before buyers managed to hold the $5.44 area. Technical Analysis Range: $5.29–$5.63 over the 23-hour period, a 5% spread. Support Zone: $5.32–$5.35 showed repeated buying interest. Resistance: $5.63 capped upside attempts. Volume Spike: 976,480 units traded at 12:00 UTC, nearly double the daily average. Breakdown Point: Loss of $5.48 support triggered a brief late-session dip. Recovery Phase: $5.37 to $5.52 surge on high volume marked institutional buying. Late Selling: Dip from $5.45 to $5.43 as resistance held. Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards . For more information, see CoinDesk's full AI Policy .

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