ICP Climbs With Broader Crypto Rally, Holds Gains Above $5.50

Internet Computer (ICP) moved higher in tandem with a broad-based crypto market surge, climbing 1.89% $5.5354 after peaking at around $5.65 early on Wednesday. As capital rotated into altcoins following gains in bitcoin and ether , ICP followed suit with a 7% upswing, driven by early bullish momentum and strong support at the lower end of its range. The 24-hour window spanning July 15 at 15:00 UTC to July 16 at 14:00 UTC saw ICP fluctuate within a $0.39 range. Volume during this rally exceeded 964,000 units, indicating robust participation from both large and small buyers as the altcoin sector gained steam. After peaking, ICP transitioned into a sideways consolidation phase between $5.50 and $5.58. Two failed attempts to break above the $5.64–$5.66 resistance zone confirmed short-term exhaustion, according to CoinDesk Research’s technical analysis data model. The token remained well bid near $5.52, where fresh demand consistently emerged. Read more: ICP Jumps 4% as Launch of AI-Powered Self-Writing Web3 Apps Platform ‘Caffeine’ Nears This consolidation reflects similar dynamics seen across Layer 1 tokens, which are seeing profit-taking after multi-session gains but maintaining higher support zones . ICP’s ability to hold steady in a tightening range mirrors the broader market’s pause after a strong leg up. If bullish sentiment across the crypto market continues, ICP may challenge the $5.60–$5.66 resistance band again, supported by steady inflows and its strong positioning in the decentralized computing narrative. Technical Analysis Highlights ICP climbed 7% from $5.28 to $5.66 before consolidating in a $0.39 range. Early rally supported by 964K+ volume, matching broader altcoin strength. Resistance firmed at $5.64–$5.66 with two rejection attempts. Price stabilized in a $5.50–$5.58 channel for much of the session. Support formed around $5.52; buyers consistently defended this level. ICP rebounded from $5.50 to $5.53 in the final hour on 19.8K+ volume. Market structure remains bullish above $5.50 amid macro crypto strength. Current price: $5.5354, up 1.89% on the day. 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 .

Source: CoinDesk