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ICP Falls 2.4% Despite Bullish Reversal From Sub-$5 Levels
Internet Computer falls amid volatile trading, but rebounds off $4.97 lows with elevated volume
Aug 6, 2025, 3:53 p.m.
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What to know:
- ICP fell 2.4% to $5.08 during the 24 hours ended 15:00 UTC on Wednesday.
- Despite the drop, the token rebounded 3.2% from intraday lows of $4.97 to $5.13.
- Trading volume spiked 56% above average during the reversal, with new support forming at $5.04.
Internet Computer's native token (ICP) shed 2.4% over the last 24 hours, retreating from $5.21 to $5.08, even as it showed intraday strength.
After hitting a low of $4.97, the token rebounded as much as 3.2% to reach a local high of $5.13 before consolidating around $5.06–$5.08, according to CoinDesk Research's technical analysis data model. The session's 3.52% swing highlighted both bearish pressure and renewed interest from buyers near key support levels.
STORY CONTINUES BELOW
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The strongest recovery occurred during the 05:00 UTC window, when volume surged to 524,622 tokens, 56% above the 24-hour average of 337,329. This influx of activity marked a turning point as bulls stepped in between $4.97 and $5.00, with bears pushing back at the $5.09-$5.13 resistance cluster.
ICP advanced from $5.02 to $5.06, gaining 0.80% on increased volume, during the U.S. morning, with a climb above $5.04 suggesting ongoing momentum.
Technical Analysis
- Net 24-Hour Movement: -2.4% from $5.21 to $5.08
- Intraday Recovery: +3.2% from $4.97 to $5.13
- Key Support: $4.97–$5.00 saw repeated buying
- Resistance Zone: $5.09–$5.13 capped rally attempts
- Volume Surge: 524,622 units at 05:00 UTC, 56% above average
- Breakout: Cleared $5.03–$5.04 resistance
- New Floor: $5.04 forms as latest support level
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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