Internet Computer’s token (ICP) saw a 2.4% drop in the past 24 hours, falling from $5.21 to $5.08, despite showing signs of resilience through intraday recovery.

The token briefly dipped to a low of $4.97 before bouncing back by 3.2%, reaching a local high of $5.13. ICP then stabilized between the $5.06–$5.08 range, with CoinDesk Research’s data pointing to a 3.52% price fluctuation that captured both the ongoing bearish sentiment and renewed buying interest around key support levels.

The most notable recovery took place at 05:00 UTC, when trading volume surged to 524,622 tokens—56% higher than the average of 337,329. This volume spike marked a key turning point, as bulls stepped in near the $4.97–$5.00 support zone, while bears capped any further rally around the $5.09–$5.13 resistance range.

ICP climbed from $5.02 to $5.06 during the U.S. morning session, gaining 0.80% on the back of increased volume. The movement above $5.04 suggests the potential for continued upward momentum if the $5.04 level remains intact as support.

Technical Breakdown

• 24-Hour Price Movement: A 2.4% drop from $5.21 to $5.08
• Intraday Recovery: A 3.2% bounce from $4.97 to $5.13
• Support Zone: Strong buying interest near the $4.97–$5.00 range
• Resistance Zone: Persistent resistance around $5.09–$5.13
• Volume Surge: 524,622 tokens traded at 05:00 UTC, 56% above the average
• Breakout Level: Cleared resistance in the $5.03–$5.04 range
• New Support Level: $5.04 now forms a fresh floor

Despite the 2.4% drop, ICP’s rebound from key support levels suggests that buyer sentiment remains strong. The next hurdle lies at the $5.09–$5.13 resistance range, but if volume continues to rise, ICP could see further gains.