Internet computer protocol (ICP) Resilience demonstrated in the past 24 hours, organizing a rally that raised the token from almost 3% to $ 5.13.
The move closed a V -shaped recovery which started with a retirement overnight at the levels of support around $ 4.98, where a high volume of purchase activity took place, depending on the Technical Analysis Data model of Coindesk Research.
After plunging $ 5.07, ICP consolidated in the area from $ 4.98 to $ 5.00, establishing a base reinforced by a commercial volume of 372,179 units, levels significantly higher than average. This accumulation phase marked the turn, while the purchase pressure rose at the start of the session.
The momentum was built regularly before culminating in a decisive break at the end of the period. ICP increased through several resistance barriers to receive $ 5.13, the final advance fueled by a volume peak of 272,186 units. The resistance that had previously formed almost $ 5.11 was raped, suggesting that the sellers lost control of the short -term trend.
Cryptocurrencies such as the ICP seem to arouse new interest because the alternative asset classes gain ground. Recovery and heavy accumulation at support levels can position ICP for other gains, with the next technical target for about $ 5.18 on the basis of Fibonacci extension levels.
Technical analysis
- Trading corridor: $ 4.98 at $ 5.13, representing a 3%range.
- Recovery model: V -shaped rebound from $ 5.07 to $ 4.98 at $ 5.00.
- Volume support: 372,179 $ 4.98 units, well above daily averages.
- Resistance: formed around $ 5.11 but broken during the final overvoltage.
- Escape: prices increased to $ 5.13 on a volume peak of 272,186 units.
- Momentum: signals a strong interest and a configuration for the objective of $ 5.18.
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