ICP Jumps 4% as Breakout Volume and Dev Activity Fuel Rally

Internet Computer

posted a strong 4.3% gain in the 24-hour trading period into Thursday, climbing from $4.96 to $5.16, with a high of $5.19. The price action was fueled by significant trading activity and accelerating developer momentum, positioning ICP as one of the top-performing infrastructure tokens of the session.

The breakout took shape between 18:00 and 21:00 UTC on July 9, when ICP surged from $4.95 to $5.19. Volume peaked at 886,937 units at 19:00, far exceeding the 24-hour average of 388,671 units, according to CoinDesk Research’s technical analysis model. This strong inflow of buying interest established a new resistance band around $5.22, which traders are now watching closely for potential continuation, the model showed.

Support levels held firm at $4.90–$4.93, with secondary support forming between $5.11 and $5.14. Price consolidation above $5.15 reflects strong structural integrity and reinforces the likelihood of another attempt at resistance in the near term.

Beyond price action, ICP recorded 431.3 daily GitHub events in the month of June, according to data by Santiment, exceeding the likes of NEAR and Filecoin by some distance and suggesting sustained development engagement.

Technical Analysis Highlights

• Price range: $4.96-$5.19, a 4.3% gain with a $0.28 swing.
• Volume spike: 886,937 units traded at 19:00 UTC, more than double the daily average.
• Support levels: $4.90–$4.93 (primary), $5.11-$5.14 (secondary).
• Resistance zone: $5.18-$5.22 marks the next breakout challenge.
• Developer strength: ICP leads with 431.3 daily GitHub events, reflecting continuous ecosystem growth.

Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.