Internet (ICP) A notable resilience exposed in the last 24 hours, by going a volatile negotiation session shaped by a broader macroeconomic uncertainty. After falling at $ 4.78, the token rebounded at almost $ 4.85, finally regulating at $ 4.77771, down 0.98% over the day.
ICP respected its level of key support at $ 4.80, which was tested and confirmed several times throughout the session, according to the technical analysis data of Coindesk Research. This level has become an essential pivot area for merchants who are considering increasing potential if a broader feeling continues to improve.
Macro-factors remain influential in the cryptographic landscape. While geopolitical tensions have unstable markets, Bitcoin’s return to $ 109,000 during the volume launched in Asian morning increased on several assets, including the peak, despite the relative price stability.
ICP’s ability to bounce support while absorbing intraday volatility could point out an increasing confidence in traders.
Strengths of technical analysis
- ICP exchanged in a 2.54%range, prices fluctuating between $ 4.78 and $ 4.90 from July 6 at 3:00 p.m. UTC at July 7 at 2:00 p.m. UTC.
- Strong resistance at $ 4.90 was tested twice during evening hours on July 6.
- Support at $ 4.80 was validated by repeated rebounds and acted as a launch point for ascending movements.
- Between 13: 05–14: 04 UTC on July 7, ICP joined 0.62%, from $ 4.81 to $ 4.84, confirming the optimistic momentum.
- Consolidated price between 13: 05 and 13: 20 before the start of an escape at 13:21 UTC.
- A net rally between 13: 57–13: 59 raised icp at $ 4.85, marking a leap of almost 2%.
- Volume increased for 13: 41–13: 43 (66,623 ICP) and again at 13: 57–13: 58 (14,170 ICP)suggesting possible institutional purchases.
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