ICP Rises 2.8% Amid Increased Buying Interest and Trading Volume
Internet Computer Protocol (ICP) increased by 2.8% over the last 24 hours, outperforming the CoinDesk 20 index which rose by 1.9%. ICP's price fluctuated between $4.60 and $4.84, showing a 5% swing.
Key events include:
- The most significant decline occurred from $4.74 to $4.60 between 20:00 and 21:00 UTC on September 1, with trading volume exceeding 827,000 units.
- Support established at $4.60 attracted buying interest after the dip.
- ICP recovered to resistance levels around $4.83-$4.84 by 10:00 UTC on Tuesday.
- Volume during recovery peaked at 26,000 units, significantly higher than the hourly average of 5,500.
- A breakout was confirmed with consolidation in the $4.82-$4.83 range leading to a rise toward $4.84.
- Potential upside targets identified above $4.85 based on Fibonacci extensions.