Internet Computer Slides Amid Broader Altcoin Pullback

Internet Computer (ICP) dropped 4.85% to $5.9149 on Tuesday, posting a low of $5.81 after peaking at $6.25 the previous day.

Despite bullish headlines - a new partnership between Internet Computer developers DFINITY Foundation and indexing firm Maestro - the token succumbed to broad market rotation out of altcoins, including AI- and DeFi-linked assets.

Read more: Solana Defies Market Drop, Touches $200 as Altcoins Retreat: Crypto Daybook Americas

Maestro's infrastructure, funded by DFINITY, aims to build a Bitcoin metaprotocol index on the Internet Computer, enabling institutional-grade access to Ordinals and Runes, two of the most prominent primitives in the Bitcoin DeFi ecosystem.

However, technical action reflected a more pessimistic short-term outlook. After opening at $6.2230, ICP steadily declined, breaking below $6.00 around 01:00 UTC and accelerating losses toward $5.83 support. Volume swelled above 1.3 million tokens during this segment, signaling large selling pressure, according to CoinDesk's technical analysis data model.

ICP fell 2% from $5.97 to $5.87 during the U.S. morning, with concentrated sell pressure visible as the price pierced multiple support zones. Despite a brief rebound attempt near $6.02, the token failed to reclaim bullish footing, suggesting short-term momentum remains with the bears unless the $6.00 resistance is convincingly reclaimed, the data showed.

Technical Analysis Highlights

Price Range: $5.8105–$6.2488, representing 7.3% intraday spread.Volume: 1.94 million tokens traded; highest during breakdown below $5.90.Resistance: Strong rejection at $6.00–$6.02 range with no sustained breakout.Support: Critical base formed at $5.83–$5.87 amid heavy buying interest.From 13:09 to 14:08 UTC, ICP fell 2%, driven by sharp volume spikes exceeding 50K tokens/minute.Volatility: Full-day spread of $0.4383 reflects heightened intraday instability.

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