Sunday, September 7, 2025
Google search engine
HomeUncategorizedICP Price Bounces Back After Testing $5.29 Support Amid Heavy Volatility

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

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

Institutional interest emerges after sharp intraday swings send ICP down to multi-week lows.

Aug 12, 2025, 3:42 p.m.

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.

Jamie Crawley

Jamie has been part of CoinDesk’s news team since February 2021, focusing on breaking news, Bitcoin tech and protocols and crypto VC. He holds BTC, ETH and DOGE.

X icon

CD Analytics

CoinDesk Analytics is CoinDesk’s AI-powered tool that, with the help of human reporters, generates market data analysis, price movement reports, and financial content focused on cryptocurrency and blockchain markets.

All content produced by CoinDesk Analytics is undergoes human editing by CoinDesk’s editorial team before publication. The tool synthesizes market data and information from CoinDesk Data and other sources to create timely market reports, with all external sources clearly attributed within each article.

CoinDesk Analytics operates under CoinDesk’s AI content guidelines, which prioritize accuracy, transparency, and editorial oversight. Learn more about CoinDesk’s approach to AI-generated content in our AI policy.

More For You

BONK Jumps 10% to $0.000027 Before Profit-Taking Hits

BONK posts its strongest daily rally in weeks, hitting $0.000027 before selling pressure caps gains.

What to know:

  • BONK gained 10% in 24 hours, reaching $0.000027 before some profit-taking brought a small pullback.
  • Support held at $0.000024 during early trading, fueling an overnight breakout.
  • Volume spikes suggest institutional activity amid heightened volatility.

Read full story

Read More

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -
Google search engine

Most Popular

Recent Comments