ICP Plummets 7% as Institutional Exodus Shatters Key Support—What’s Next?

ICP's foundation cracks under pressure as whales dump holdings.

Heavy selling triggers a 7% nosedive—just another day in crypto volatility.

Key support levels vaporized. Traders now eye whether retail can absorb the institutional bleed.

Bonus cynicism: Wall Street plays hot potato with your bags—again.

Technical Analysis

• ICP fell 7% from $5.67 to $5.27 on Aug. 17–18.
• Critical support level at $5.48 was breached during early Aug. 18 trading.
• Volume surged to 708,905 units, almost double the 24-hour average of 386,248 units.
• Recovery attempts failed, with a 1.12% drop from $5.35 to $5.29.
• Current price consolidation near $5.29 reflects waning institutional participation.

 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.