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

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What to know:

  • ICP traded in a volatile 5% range between $5.29 and $5.63 over the past 24 hours.
  • Institutional buyers stepped in near $5.32-$5.35, triggering a midday rebound.
  • Trading volume peaked at nearly 1 million units during recovery surges, exceeding daily averages.

Ah, the drama of the crypto world! ICP, like a wounded bird, flapped between $5.29 and $5.63 in a 24-hour period, as if the price couldn’t decide whether to soar or dive. A meandering 5% range-a perfect storm for those who like their volatility with a touch of panic.

But fear not, dear reader! When the price took a nosedive to $5.29, a magical support zone emerged between $5.32 and $5.35, where institutional buyers-those knights in shining armor-came rushing in. And lo and behold, a midday rebound was born! Talk about a timely intervention! 🦸‍♂️

And just when you thought it couldn’t get more exciting, ICP soared from $5.37 to $5.52, thanks to an impressive surge in volume at exactly 12:00 UTC. It’s like someone switched the crypto market from ‘meh’ to ‘wow’ mode. Still, those pesky resistance levels near $5.63 tried to put a damper on the party. 📉

But let’s not get too comfortable. After a brief flirtation with $5.43 in the U.S. morning hours, a dip threatened to spoil the mood as sellers crept in. Yet the true heroes, the buyers, managed to keep things afloat at $5.44. A close call, but a win nonetheless!

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.

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2025-08-12 19:40