Internet computer (ICP) recorded a 5.35% withdrawal over the past 24 hours and dropped from $ 6.01 to $ 5.69 as weakness set in among the wider Altcoin market. ICP struggled to maintain bullish momentum and met fixed resistance in $ 6.00- $ 6.10 zone that had limited several breakout attempts.
The sharpest decline came during 13.00 UTC hour on Thursday, when ICP slid to $ 5.62 from $ 5.97 in just minutes, driven by a large increase in trading volume. Total daily revenue reached 2.58 million tokens-nest four times the 24-hour average institutional scale distribution pressure according to Coindesk Research’s technical analysis data model.
The wider market showed similar dynamics, where Altcoins such as sun, Avax and ADA retired in the midst of profit and regulatory developments. Analysts characterized Retracement as a healthy rotation after President Donald Trump-related collections and renewed attention to stablecoin legislation. Despite individual bullish catalysts, many tokens failed to maintain a traction, with dealers who redistribute capital and defend key support zones.
Technical analysis
- ICP fell 5.35% from $ 6.01 to $ 5.69 between July 22 and July 23.
- Intraday High of $ 6.14 and low at $ 5.62 established a volatile $ 0.52 range (8.4% spread).
- Price dropped to $ 5.62 from $ 5.97 at. 13:00 UTC on July 23 in the middle of 2.58 million token volume.
- Volume during capitulation exceeded 100,000 per Minute, almost 4 × daily average of 650k.
- Resistance confirmed to $ 6.00- $ 6.10 with multiple failed breakout attempts.
- Critical support formed at $ 5.62 after heavy sale during 13: 40–13: 51 UTC window.
- Market struggled to regain $ 5.83 with sustained sales on minor rebounds.
Disclaimer: Parts of this article were generated with the help of AI tools and reviewed by our editorial team to ensure accuracy and compliance with Our standards. For more information, see Coindesk’s full AI policy.
