The computer on the Internet is faced with fresh sale while the support zone is under pressure
Internet computer protocol (ICP) drift down the past 24 hours, The shedding of 2.35% to trade at $ 5.18.
The token has moved within a $ 0.23 band between $ 5.14 and $ 5.40, reflecting a 4% swing that emphasizes the ongoing volatility that shapes current market conditions, according to the technical review model of technical research of Coindesk Research.
A promotion at the resistance level of $ 5.40 was quickly addressed by the distribution as the ICP was fixed back to the established support corridor around $ 5.17- $ 5.20. The trade saw large accumulation activity, with volumes of more than 643,000 units at those levels.
Subsequently the ICP slipped to $ 5.19 with a repeated resistance to the $ 5.24 forming a descending channel pattern. Short explosions of activity, such as the 34,000-unit spikes at 13:54 UTC, did not reverse the momentum, leaving the token combined with its lows.
The ICP may remain under pressure if the $ 5.17 support failed to handle, with market participants observing for any rebound signals while institutional and retail traders re -evaluate their positioning.
Technical analysis
- The price range spanked a $ 5.14- $ 5.40, a 4% variation throughout the 24-hour session.
- The resistance emerged at $ 5.40 on August 18 at 22:00 UTC with a volume of 294,177 units.
- Support combined with $ 5.17- $ 5.20, with early morning volumes over 643,000 units.
- Repeated resistance to $ 5.24 during late-session trading confirmed a downward channel.
- Heavy sale took place between 13: 32–13: 46 UTC, with a 34,396-unit spike at 13:54 UTC.
- The volume has shown a lowering pattern, suggesting a market fatigue.
Denial: Parts of this article were formed with assistance from AI tools and our editorial team reviewed to ensure accuracy and compliance with our standards. For more information, see CoinDesk’s entire AI policy.
