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

Internet Computer (ICP) experienced a significant decline of 11.2%, falling to $6.69 after breaking through the critical $7.00 support level. This price drop was accompanied by a surge in trading volume, reaching 6.31 million tokens, and marking an increase of 94% over the average for the 24-hour period. The drop follows a rally to $8.76 the previous week, intensifying concerns around bearish momentum for ICP. Analysts suggest the decline could lead to further downward pressure, with potential support levels identified at $6.65 to $6.70. If ICP remains below the $7.00 threshold, its price could extend towards $6.50. Conversely, regaining a position above this level is necessary for any short-term bullish recovery.

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