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Moved higher in tandem with an increase in the large cryptography market, climbing $ 1.89% 5.5354 after culminated at around $ 5.65 at the start of Wednesday. While the capital was running in altcoins after bitcoin and ether gains, ICP followed suit with an increase of 7%, driven by an early upward dynamic and strong support at the lower end of its range.
The 24 -hour window extending on July 15 at 3:00 p.m. UTC at July 16 at 2:00 p.m. UTC saw ICP fluctuate in a range of $ 0.39. The volume during this rally exceeded 964,000 units, which indicates a robust participation of large and small buyers while the Altcoin sector has gained steam.
After culminated, ICP went to a lateral consolidation phase between $ 5.50 and $ 5.58. Two unsuccessful attempts to exceed the resistance zone from $ 5.64 to $ 5.66 confirmed short -term exhaustion, according to the CoindSk Research technical analysis data model. The token has remained well soupped almost $ 5.52, where a new request has always emerged.
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This consolidation reflects a similar dynamic observed through layers of layer 1, which note benefits after multi-session gains, but by maintaining higher support areas. ICP’s ability to hold stable in a tightening range reflects the larger market break after a strong up.
If the bullish feeling in the cryptography market continues, ICP can question the resistance band from $ 5.60 to $ 5.66, supported by stable entries and its solid positioning in the decentralized computer narrative.
Strengths of technical analysis
- DIP increased from $ 5.28 to $ 5.66 before consolidating in a range of $ 0.39.
- Early rally supported by 964K + volume, corresponding to a wider Altcoin force.
- Resistance refreshed from $ 5.64 to $ 5.66 with two rejection attempts.
- Price stabilized in a channel of $ 5.50 to $ 5.58 for a large part of the session.
- The support made up about $ 5.52; Buyers have constantly defended this level.
- ICP rebounded from $ 5.50 to $ 5.53 in the last hour out of 19.8K + volume.
- The market structure remains optimistic greater than $ 5.50 in the middle of the force of macro cryptography.
- Current price: $ 5.5354, up 1.89% per day.
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