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ICP Maintains Bullish Structure Setting $4.72 as a Foundation for Next Move Higher
ICP climbs 1% after testing key support, with recovery momentum suggesting further upside potential.
Jul 8, 2025, 5:17 p.m.
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What to know:
- ICP rose 1% after rebounding from earlier weakness.
- Price action confirmed $4.72 as a key support level amid elevated volume and sustained buy pressure.
- Technical structure points to a bullish continuation as ICP holds above short-term resistance.
delivered a solid recovery on Tuesday, climbing 1% after encountering early selling pressure.
The rebound from intraday lows showcased the asset’s structural strength and growing buyer conviction at key technical levels.
STORY CONTINUES BELOW
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After slipping early in the European morning, ICP found support near the $4.72 mark, where trading activity intensified and buyers stepped in aggressively. This level now stands as a high-conviction support zone, marking a potential base for further upside, according to CoinDesk Research's technical analysis data.
The price stabilized above this threshold and gradually climbed toward previous highs, suggesting the presence of accumulation and reinforcing bullish sentiment.
Volume trends surrounding the reversal were notably elevated, indicating institutional participation and strong reaction at support. The strength of the bounce and sustained recovery suggest that ICP remains on solid footing technically, even amid broader market fluctuations.
With bullish continuation patterns emerging and no immediate overhead resistance reasserting itself, ICP may be poised to challenge recent highs. Traders and long-term holders alike may look to the resilience at $4.72 as a foundation for the next move higher.
Technical Analysis Highlights
- ICP posted a 1% daily gain after rebounding.
- The $4.72 level emerged as a clearly defined support zone following high-volume accumulation.
- Elevated buy-side activity signaled strong conviction among traders during the recovery.
- Short-term resistance levels were tested and overcome without significant retracement.
- The market structure remains favorable for potential bullish continuation in the coming days.
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.
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