Internet Computer Protocol (ICP) has come under renewed selling pressure, with the token losing key support levels despite positive ecosystem updates.
ICP Falls Nearly 5% in 24 Hours
The native token of Internet Computer Protocol declined 4.77% in the last 24 hours, dropping from $5.66 to $5.39. During this period, ICP traded within a volatile range of $5.68 to $5.35, marking a 5.3% intraday swing, according to price tracking data.
This sharp decline comes as ICP broke below the critical $5.55 support level, triggering a new wave of bearish sentiment. The breakdown occurred on volume levels nearly twice the 24-hour average, suggesting strong conviction among sellers.
$5.55 Support Level Fails Under Pressure
The $5.55 price level had acted as a strong support zone for over a week, making its breakdown a significant bearish technical signal.
Losing this level opens the possibility of further declines toward $5.10 or even the psychological $5.00 mark if selling continues.
Traders have turned cautious amid wider market indecision, and ICP now faces resistance at $5.55 and $5.68, previously seen as local highs.
DFINITY Unveils New No-Code Dev Tools — But Market Stays Bearish
In contrast to the negative price action, DFINITY Foundation, the team behind ICP, recently launched a no-code development platform that enables app creation using natural language inputs.
Despite the innovation, the news failed to shift market momentum, highlighting the disconnect between protocol growth and token price.
Technical Outlook Remains Weak
Until ICP reclaims the $5.55 zone with strong buying volume, the bias remains firmly bearish. Momentum indicators point to an oversold structure, but no clear reversal signal has yet emerged.
Investors are closely watching for a bounce at the $5.30–$5.35 region to gauge near-term direction.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.