ICP Drops 7% as Critical Support Level Breached Amid Selling Pressure
Internet Computer Protocol (ICP) Update
- ICP lost 7% in value, dropping to $5.27.
- Critical support level at $5.48 breached on Aug. 18.
- Trading volume spiked to 708,905 units, nearly double the average of 386,248 units.
- Evidence suggests coordinated selling by large investors.
- Attempts to recover failed; price fell back to $5.29.
- Market pressures linked to U.S. inflation concerns from recent Producer Price Index report.
Current consolidation around $5.29 indicates reduced institutional interest.