5% Pullback for ICP as Market Rotates Out of Altcoins, Resistance Level Intact

ICP Slumps 5% as Altcoin Market Retreats, Resistance Holds at $6.10

Internet Computer (ICP) slid over 5% in the past 24 hours, dragged lower by a broad-based altcoin pullback that outweighed recent optimism around Bitcoin-centric DeFi infrastructure.

The token dropped from $6.01 to $5.69, with its steepest fall occurring during the 13:00 UTC hour, when it plunged to $5.62 amid a surge in trading volume. Over 2.58 million tokens changed hands on the day—nearly quadruple the average—signaling strong sell-side pressure, likely from institutional players.

Despite briefly touching a session high of $6.14, ICP failed to break through the $6.00–$6.10 resistance zone, which has capped upside moves multiple times in recent weeks. The inability to sustain a recovery above $5.83 highlights weakening buyer momentum.

The losses mirror widespread retracements across major altcoins including SOL, AVAX, and ADA, as traders rotate capital out of risk assets. Analysts cited recent rallies tied to political developments and stablecoin regulation as likely triggers for the selloff, noting the move may reflect a cooling period following weeks of speculative inflows.

Technical Highlights:

• 24-hour drop: 5.35% decline from $6.01 to $5.69
• Daily range: $6.14 high / $5.62 low (8.4% spread)
• Volume: 2.58M tokens traded—4× daily average
• Key resistance: $6.00–$6.10 continues to hold
• Support test: Initial bounce failed at $5.83 after sharp selloff
• Market tone: Cautious amid risk rotation and faltering upside momentum

While long-term sentiment for ICP remains tied to ongoing ecosystem development, the near-term outlook appears bearish unless broader market support returns and volume stabilizes at higher price levels.