Internet computer protocol (ICP) He directed down in the last 24 hours, throwing 2.35% to operate at $ 5.18.
The Token moved within a $ 0.23 band between $ 5.14 and $ 5.40, which reflects a 4% swing that underlined the persistent volatility that formed the current market conditions, according to the Coindensk Research technical analysis data model.
An advance at $ 5.40 level quickly met with the distribution as ICP was resolved towards its established support corridor around $ 5.17– $ 5.20. Commerce saw a substantial accumulation activity, with volumes exceeding 643,000 units at those levels.
Subsequently, ICP fell to $ 5.19 with repeated resistance to $ 5.24 forming a descending channel pattern. Brief bursts of activity, such as the peak of 34,000 units at 13:54 UTC, could not reverse the impulse, letting the token consolidate its minimums.
ICP could remain under pressure if the support for $ 5.17 is not maintained, what market participants will observe any rebound signal as institutional and retail merchants reassess their positioning.
Technical analysis
- The price range covered $ 5.14– $ 5.40, a 4% variation in the 24 -hour session.
- The resistance arose at $ 5.40 on August 18 at 22:00 UTC with a volume of 294,177 units.
- Consolidated support at $ 5.17- $ 5.20, with volumes over 643,000 units.
- The resistance repeated to $ 5.24 during the late session trade confirmed a descending channel.
- The heavy sale occurred between 13: 32–13: 46 UTC, with a peak of 34,396 units at 13:54 UTC.
- The volume showed a decrease pattern, which suggests market exhaustion.
Discharge of responsibility: Parts of this article were generated with the assistance of artificial intelligence tools and reviewed by our editorial team to guarantee the precision and compliance with Our standards. For more information, see Coindesk’s complete policy.
