Internet Computer Gains 2.29% on Surging Trading Volume

Internet Computer (ICP) experienced a notable price rally on August 8, 2025, advancing 2.29% within 24 hours to settle at $5.37, up from $5.25. The movement unfolded within a $0.26 trading range between $5.16 and $5.42, reflecting significant intraday volatility [1]. The token's price action was underpinned by robust volume dynamics that reinforced bullish sentiment.

Throughout the day, ICP traded within a well-defined support range of $5.24–$5.27, where it absorbed large volumes that significantly exceeded the 24-hour average of 876,000 units. The most notable volume spikes occurred at midnight UTC (3.13 million units) and at 01:00 UTC (6.93 million units), indicating strong accumulation activity [1]. These levels acted as a foundation for the price to rally toward the next resistance cluster at $5.39–$5.42.

The breakout above the $5.36 resistance level was confirmed between 09:50 and 09:55 UTC, with trading volumes ranging from 27,887 to 39,904 units, over three times the hourly baseline. This period saw ICP rise to $5.38, notching a 0.37% intra-day gain and establishing a new intraday support range at $5.33–$5.34 [1].

The sustained buying interest during consolidation phases suggests that institutional investors and large traders are increasingly positioning themselves ahead of potential follow-through gains. Additionally, the token's recent performance has been supported by its broader development roadmap, including performance upgrades and Bitcoin integration features that may enhance its utility and appeal [1].

Technical indicators highlight the strengthening of ICP’s chart structure, with the repeated defense of key support levels and volume spikes indicating a strong balance of power shifting toward buyers. The next key threshold lies at $5.40–$5.42, which, if successfully breached, could unlock further upside potential for the token. Traders and investors are likely to remain closely focused on this level as a barometer of broader market confidence in the Internet Computer ecosystem.

Source: [1] ICP Pushes Higher as Strong Volume Secures Bullish Momentum (https://www.coindesk.com/markets/2025/08/08/icp-pushes-higher-as-strong-volume-secures-bullish-momentum)