The Internet Computer Protocol’s native token, ICP, surged 5% to $5.57, driven by robust technical indicators and essential upgrades. Over the past 24 hours, ICP traded within a $0.36 range, with notable support at $5.21 during a volume spike to 1.43 million tokens. This volume was significantly above the average of 476,829, according to CoinDesk’s analysis. The token established a bullish trend with rising lows but faced resistance at $5.58. Recent advancements from DFINITY, including the launch of Internet Computer 2.0, introduce tools for easy app creation, positioning ICP favorably within the competitive layer-1 landscape. With over 1 million ICP tokens burned in five months, the supply reduction signals a commitment to value growth. Institutional interest in AI-integrated crypto assets is strengthening, with significant trading volumes confirming bullish sentiments. Key support and resistance levels are marked at $5.21 and $5.58 respectively, indicating ongoing market dynamics.
Source link
