ICP Surges 5% Intraday Amid Institutional Buying Pressure and Volatile Trading

ICP experienced a dramatic 24-hour trading session on August 12, 2025, as the token swung within a $5.29–$5.63 range—a 5% intraday range—highlighting intense volatility and active market participation. After hitting a multi-week low at $5.29, ICP found critical support between $5.32 and $5.35, where CoinDesk data indicated a surge in volume typically associated with institutional buyers entering the market. This buying pressure triggered a midday rebound, lifting the token from $5.37 to $5.52 on a single 12:00 UTC trading hour that saw nearly 976,480 units traded—roughly double the daily average [1].

The recovery was not without setbacks. Despite reclaiming lost ground, ICP faced resistance near $5.63, which limited further upward movement. Early in the U.S. morning, the token briefly dipped back to $5.43 as sellers re-emerged, breaking the $5.48 support level before stabilizing around $5.44. This pattern of sharp intraday swings underscores the ongoing tug-of-war between buyers and sellers, with institutional activity increasingly evident as prices have approached key support levels.

The trading session also highlighted the token’s sensitivity to liquidity imbalances. The sharp sell-off that brought ICP to $5.29 was followed by a rapid reversal, signaling the presence of strategic accumulation near the support zone. Analysts have pointed to these moves as indicative of long-term positioning by institutional investors, who often target discounted levels during heightened volatility [1].

While the immediate technical outlook remains mixed, with key resistance at $5.63 and support at $5.44, the volume spikes and price behavior suggest a potential inflection point for ICP. If buyers can maintain control above $5.44, the token could test $5.63 again. A failure to hold this level, however, may push ICP further into uncharted territory.

[1] Source: [1] ICPT Price Bounces Back After Testing $5.29 Support Amid Heavy Volatility

https://www.coindesk.com/markets/2025/08/12/icp-price-bounces-back-after-testing-usd5-29-support-amid-heavy-volatility