Internet computer protocol (ICP) dropped over the past 24 hours and lost 7% of its value.
The token fell to a low level of $ 5.27, reviewing critical support levels and raising concerns about sustained institutional interest in the project, according to Coindesk Research’s technical analysis data model.
Market data showed that the ICP fell below $ 5.48 support limit in the early hours of August 18, with trading activity spiking to 708,905 units, almost twice the daily average of 386,248 units. Analysts marked this pattern as evidence of coordinated sales among large investors and corporate chains. A jump was short -lived where the token fell back to $ 5.29.
The crypto market as a whole deal with bearish pressure following an ignition of concerns over US inflation after Last week’s producer price index (PPI) Reading for July 2025 was hotter than expected.
A downturn in the wider crypto market can increase sales pressure on tokens such as ICP due to a general risk-off mood, reduced liquidity and investors’ tendency to sell more speculative assets first.
Technical analysis
- ICP fell 7% from $ 5.67 to $ 5.27 on August 17 to 18th.
- Critical Aid Level to $ 5.48 was violated in August 18th Trade.
- Volume increased to 708,905 units, almost twice the 24-hour average of 386,248 units.
- Recovery attempt failed with a fall of 1.12% from $ 5.35 to $ 5.29.
- The current price consolidation near $ 5.29 reflects declining institutional participation.
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.
