ICP Plummets from $5.76 Peak as Bears Tighten Grip—Is This a Buying Opportunity?
Internet Computer (ICP) faces brutal selling pressure after failing to hold its $5.76 high—classic crypto volatility or something more sinister?
Bearish forces swarm ICP
The token’s nosedive follows a broader market cooldown, proving once again that ‘decentralized’ doesn’t mean ‘immune to panic.’ Traders who bought the top are now learning the oldest lesson in crypto: gravity always wins.
Silver lining for degens?
Dips like these separate the diamond hands from the leverage-liquidated. If you believe in ICP’s tech (and ignore the fact that 90% of ‘blockchain projects’ are PowerPoints with a token), this might be your moment. Or just another trap—welcome to crypto.
Technical Analysis
- Price Range: Swung between $5.28 and $5.76, an 8.3% intraday spread.
- Resistance: $5.76 capped upside momentum with visible rejection.
- Support: Strong support confirmed at $5.28 amid early accumulation.
- Volume Spike: 897,725 tokens traded during rebound from intraday low.
- Sell-Off Window: Declined from $5.76 to $5.66 between 15:08–15:50 UTC.
- Near-Term Support: $5.66 emerged as a floor following bearish move.
- Trading Activity: Final minutes saw trading volume fade, signaling pause.
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.
