Internet Computer Eyes $5.40 as Surging Volume Confirms Bullish Breakout

Internet Computer (ICP) gained 2.29% in the last 24 hours, climbing from $5.25 to $5.37 as strong volume inflows helped defend key support levels and fuel a breakout attempt toward $5.40 resistance.

According to CoinDesk’s technical model, ICP traded within a 4.94% range between $5.16 and $5.42, reflecting active price discovery amid heightened intraday volatility.

The most significant moves occurred in the early hours of August 8, when trading volume spiked to 3.13 million units at midnight and then doubled to 6.93 million by 01:00 UTC—well above the 24-hour average of 876,000. Buyers consistently defended the $5.24–$5.27 range, establishing a strong support zone. On the upper end, selling pressure emerged near $5.39–$5.42.

Following the initial rally, ICP advanced from $5.36 to $5.38 in a short burst, supported by concentrated volume between 09:50 and 09:55 UTC ranging from 27,887 to 39,904 units—over three times the hourly average. The move validated $5.33–$5.34 as a new intraday support floor, with a sustained break above $5.36 resistance signaling potential for further upside.

Despite broader market indecision, ICP’s technical structure has firmed. The ability to defend key levels amid rising volume suggests institutional accumulation and confidence in the project’s fundamentals, including recent performance optimizations and deeper Bitcoin integration.

Technical Snapshot:

• Price Range (24H): $5.16–$5.42 (4.94% spread)
• Support Zone: Repeatedly confirmed at $5.24–$5.27
• Resistance Zone: Clustered around $5.39–$5.42
• Midnight Volume Surge: 3.13M units (vs. 876K daily average)
• 01:00 UTC Volume Peak: 6.93M units
• Breakout Volume: 27,887–39,904 units between 09:50–09:55 UTC
• New Support: $5.33–$5.34 range
• Momentum: Strong buying pressure during consolidation phases