ICP Reclaims Momentum After Bouncing Off Key Support

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It has been remarkable resistance in the last 24 hours, weathering of the volatile trading session shaped by wider macroeconomic uncertainty. After falling to $ 4.78, Token bounced off at nearly $ 4.85Finally, it settles $ 4.771, which is 0.98% per day.

According to data from the technical analysis of Coindesk Research ICP, it has respected its key support level to $ 4.80, which was tested and confirmed several times during the session. This level has become a critical swivel zone for traders who monitor the potential up if the wider sentiment is still improving.

Macro factors remain influential across the crypto landscape. While geopolitical tension has upset markets, the return of bitcoins to $ 109,000 during the Asian morning increase in volume within multiple assets, including ICPs, despite relative price stability.

ICP’s ability to bounce from support and absorb volatility could signal growing trust of traders.

Emphasizing technical analysis

• The ICP traded in the range of 2.54% and the prices varied between 4.78 and $ 4.90 from 6 July at 15:00 UTC to 7 July at 14:00 UTC.
• Strong resistance at $ 4.90 was tested twice during the evening 6th July.
• The $ 4.80 support was verified by repeated reflections and functioned as a trigger for ascending movements.
• Between 13: 05–14: 04 UTC 7th July, ICP gathered by 0.62%, from $ 4.81 to $ 4.84, confirming bull dynamics.
• Price consolidated between 13: 05–13: 20 before the start of escape at 13:21 UTC.
• The sharp assembly between 13: 57–13: 59 raised the ICP to $ 4.85, which indicated almost 2% jump.
• The volume increased during 13: 41–13: 43 (66 623 ICP) and again at 13: 57–13: 58 (14 170 ICP)proposing possible institutional purchases.

Renunciation of responsibility: Parts of this article were created with the help of AI tools and reviewed our editorial team to ensure accuracy and observance our standards. See more information Complete policy of AI of Coindeska.