ICP Rebounds From Intraday Lows as Support at $4.80 Holds Firm

ICP$2,8729 exhibited notable resilience over the past 24 hours, weathering a volatile trading session shaped by broader macroeconomic uncertainty. After falling to $4.78, the token rebounded to nearly $4.85, ultimately settling at $4.7771, down 0.98% on the day.

ICP has respected its key support level at $4.80, which was tested and confirmed multiple times throughout the session, according to CoinDesk Research's technical analysis data. This level has become a critical pivot zone for traders eyeing potential upside if broader sentiment continues to improve.

Macro factors remain influential across the crypto landscape. While geopolitical tensions have unsettled markets, bitcoin's return to $109,000 during the Asian morning sparked volume increases across multiple assets, including ICP, despite relative price stability.

ICP’s ability to bounce from support while absorbing intraday volatility could signal traders' growing confidence.

Technical Analysis Highlights

• ICP traded in a 2.54% range, with prices fluctuating between $4.78 and $4.90 from July 6 at 15:00 UTC to July 7 at 14:00 UTC.
• Strong resistance at $4.90 was tested twice during evening hours on July 6.
• Support at $4.80 was validated by repeated bounces and acted as a launch point for upward moves.
• Between 13:05–14:04 UTC on July 7, ICP rallied 0.62%, from $4.81 to $4.84, confirming bullish momentum.
• Price consolidated between 13:05–13:20 before a breakout began at 13:21 UTC.
• A sharp rally between 13:57–13:59 lifted ICP to $4.85, marking a nearly 2% jump.
• Volume surged during 13:41–13:43 (66,623 ICP) and again at 13:57–13:58 (14,170 ICP), suggesting possible institutional buy-ins.

Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.