Internet computer destroys resistance with interest in altcoins obtained by momentum
Internet computer protocol (ICP) demonstrated being steady in the last 24 hours, setting a rally that Raised token almost 3% to $ 5.13.
The move was trapped in a V-shaped recovery that began with an overnight shrinkage to support levels around $ 4.98, where a high volume of purchase activity held, according to the technical review model of CoinDesk Research’s technical research.
After sinking from $ 5.07, the ICP combined with a $ 4.98- $ 5.00 zone, establishing a base reinforced by a trading volume of 372,179 units, above the average level. This accumulation stage has marked the point of construction, as the purchase of the pressure mounted through the early session.
The momentum continued to build before ending a decisive breakout late in season. The ICP has increased through many resistance barriers to hold $ 5.13, with the final advance fuel by a 272,186-unit spike volume. The resistance previously formed near $ 5.11 was damaged, suggesting that sellers were losing control of the nearby.
Cryptocurrencies such as the ICP appear to draw fresh interests because alternative classes possess traction. Recovery and heavy accumulation in support levels can position the ICP for additional gains, with the next technical target at sight around $ 5.18 based on FIBONACCI’s extension levels.
Technical analysis
- Trading Corridor: $ 4.98 to $ 5.13, which represents a 3% range.
- Recovery Pattern: The V-shaped rebound from $ 5.07 refused $ 4.98- $ 5.00 support.
- Volume Support: 372,179 units at $ 4.98, well above -day averages.
- Resistance: formed around $ 5.11 but damaged in final growth.
- Breakout: Prices advance to $ 5.13 to 272,186-unit spike volume.
- Momentum: Signal with strong interest and setup for $ 5.18 target.
Denial: Parts of this article were formed with assistance from AI tools and our editorial team reviewed to ensure accuracy and compliance with our standards. For more information, see CoinDesk’s entire AI policy.
