Internet computer
It moved higher in Tandem with an increase in the wide -based cryptography market, rising 1.89% $ 5,5354 after reaching a maximum point around $ 5.65 early on Wednesday. As the capital revolved to the Altcoins after the profits in Bitcoin and Ether, ICP followed its example with an increase of 7%, driven by the early bunder impulse and the strong support at the lower end of its range.
The 24 -hour window covered on July 15 at 3:00 p.m. UTC to July 16 at 2:00 p.m. UTC saw fluctuate in a range of $ 0.39. The volume during this rally exceeded the 964,000 units, indicating a solid participation of large and small buyers as the alternative sector gained steam.
After a peak, ICP went to a lateral consolidation phase between $ 5.50 and $ 5.58. Two failed attempts to break over the exhaustion of the resistance zone of $ 5.64– $ 5.66 confirmed in the short term, according to the technical analysis data model of Coindesk Research. The Token remained well about $ 5.52, where the demand constantly arose.
Read more: ICP jumps 4% as the launch of the self-writing web application platform of the ‘caffeine’ is approaching.
This consolidation reflects a similar dynamic view in the tokens of layer 1, which are seeing the profits after multiple sessions profits but maintaining greater support areas. ICP’s capacity to stay stable in a hardening range reflects the broader market pause after a strong advantage.
If the upward feeling continues throughout the cryptography market, ICP can challenge the resistance band of $ 5.60- $ 5.66 again, backed by constant tickets and its strong positioning in the decentralized computer narrative.
TECHNICAL ANALYSIS
- ICP rose 7% of $ 5.28 to $ 5.66 before consolidating in a range of $ 0.39.
- Early rally backed by 964k+ volume, coinciding with a broader Altcoin force.
- The resistance referred to $ 5.64– $ 5.66 with two attempts to rejection.
- The price stabilized in a canal of $ 5.50– $ 5.58 for much of the session.
- Support formed around $ 5.52; Buyers constantly defended this level.
- ICP recovered from $ 5.50 to $ 5.53 at the final hour in the volume of 19.8k+.
- The market structure remains bullish above $ 5.50 amid the macro cryptography force.
- Current price: $ 5,5354, 1.89% more in the day.
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