Internet Computer (ICP) Price Drops 11% to $6.69 as $7.00 Support Breaks

The Internet Computer (ICP) experienced an 11.2% decline, closing at $6.69 after breaking the important support level at $7.00. This occurred amidst a trading volume that surged 94% above the 24-hour average, indicating significant volatility. The price drop follows a week-long downtrend following a rally to $8.76, marking one of the steepest intraday declines in recent months. Volume spiked notably to 6.31 million tokens around 04:00 GMT, validating the breakdown through the $7.00 support, which has now become a resistance level. Analysts now view $6.65-$6.70 as the next key support zone, where potential stabilization might occur. Continued trading below $7.00 could further push the price down toward $6.50, while recovery above this level would be necessary for any short-term bullish resurgence.

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