source: CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data
2025. Aug. 19. 16:01
Internet Computer Protocol (ICP) drifted downward over the past 24 hours, shedding 2.35% to trade at $5.18.
The token moved within a $0.23 band between $5.14 and $5.40, reflecting a 4% swing that underscored the persistent volatility shaping current market conditions, according to CoinDesk Research's technical analysis data model.
An advance to the resistance level of $5.40 was quickly met with distribution as ICP settled back toward its established support corridor around $5.17–$5.20. Trading saw substantial accumulation activity, with volumes surpassing 643,000 units at those levels.
ICP subsequently slipped to $5.19 with repeated resistance at $5.24 forming a descending channel pattern. Short bursts of activity, such as the 34,000-unit spike at 13:54 UTC, were unable to reverse the momentum, leaving the token consolidating at its lows.
ICP could remain under pressure if support at $5.17 fails to hold, which market participants will be observing for any rebound signals as institutional and retail traders reassess their positioning.
Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.