ICP News: Internet Computer Falls Nearly 25% Following Surge to Over $6.50

Internet Computer (ICP) dropped to $4.99, nearly 25% below its recent peak exceeding $6.50 after experiencing a 64% rally on Tuesday. This significant pullback occurred amid heightened profit-taking, despite trading volume reaching 20.48 million tokens—approximately four times its 30-day average. The current support level is near $4.77, while resistance lies between $5.20 and $5.40. Analysts indicate that despite this correction, ICP's recent performance is notable given the broader downtrend in the cryptocurrency market, reflecting ongoing institutional interest. The technical setup reveals stabilization around $4.80 support, attracting buyers for the past three sessions. A sustained push above the $5.20–$5.40 range could reinstate bullish momentum, while failure to maintain the $4.77–$4.80 levels risks a deeper correction towards $4.50. This volatility highlights the increasing risk for short-term traders and underlines the unpredictable nature of the current market environment.

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