ICP Bounces 1% After Defending Key Support, Eyes Further Upside

Internet Computer (ICP) logged a 1% gain on Tuesday, staging a firm recovery after encountering early session selling pressure.

The cryptocurrency reversed from intraday lows, highlighting underlying market strength and increased confidence among buyers at critical technical levels.

After sliding in early European trading hours, ICP found strong support around $4.72. Intense trading activity emerged at this level as buyers stepped in decisively, solidifying it as a significant support zone and potential launchpad for further gains, according to technical analysis from CoinDesk Research.

Following the bounce, prices held steady above $4.72 and began moving gradually toward prior highs, indicating ongoing accumulation and strengthening bullish sentiment.

Trading volumes surged during the rebound, suggesting institutional participation and heightened interest around the support level. The strength of the recovery and the absence of renewed selling pressure point to a technically solid backdrop for ICP despite broader market volatility.

With bullish chart patterns taking shape and no immediate resistance blocking further progress, ICP appears well-positioned to retest recent highs. Market participants are likely to view the $4.72 zone as a critical foundation for the next leg upward.

Technical Analysis Highlights

• ICP rose 1% on the day after bouncing off intraday lows.
• The $4.72 mark emerged as a key support level on significant trading volume.
• Elevated buying activity reflected trader confidence during the rebound.
• Short-term resistance levels were surpassed without major pullbacks.
• Technical indicators suggest potential for continued bullish momentum in the days ahead.