Web Pc Protocol (ICP) noticed a unstable 24 hours, climbing from $5.84 to a session excessive of $6.08 earlier than succumbing to promoting stress.
The 5% swing unfolded inside a $0.28 buying and selling hall, reflecting each sturdy shopping for curiosity and swift profit-taking, based on CoinDesk Analysis’s technical evaluation information mannequin.
Early momentum carried ICP by way of a number of resistance factors, with the rally peaking at $6.08 round 03:00 UTC on August 14. Elevated quantity at these highs confirmed institutional promoting exercise, establishing a transparent resistance zone between $6.06 and $6.08. On the draw back, assist developed within the $5.87–$5.90 vary, the place patrons constantly stepped in to soak up provide.
ICP’s volatility subsequently compressed sharply. The token traded in a slender $0.04 band between $5.88 and $5.92 from 09:25 to 10:24 UTC, indicating a consolidation part as merchants reassessed positions.
Market sentiment had been shaken by a high-profile safety incident at Bitcoin-based memecoin platform Odin.enjoyable, which suspended buying and selling after shedding 58.2 BTC in a suspected exploit. The breach, which triggered a 40% collapse in ODINDOG’s worth, scrutiny over Web Pc’s safety framework, significantly its “Signal-In With Bitcoin” authentication system.
Disclaimer: Components of this text had been generated with the help from AI instruments and reviewed by our editorial workforce to make sure accuracy and adherence to our requirements. For extra data, see CoinDesk’s full AI Coverage.
