ICP Falls Significantly from $5.76 Amid Resurgence of Bearish Forces -

Internet Computer Slides After Hitting Resistance, Yet Leads in Development Activity

Internet Computer (ICP) pulled back sharply after reaching a resistance level of $5.76, dropping to $5.59 amid renewed selling pressure.

Throughout the 24-hour trading period, ICP’s price moved between $5.28 and $5.76, an 8.3% intraday range, per CoinDesk’s technical analysis. Buyers initially pushed the price to the upper end, but sellers regained control, pushing it lower on increasing volume.

After touching $5.76, the token declined steadily over 42 minutes to $5.66, marking a clear rejection at resistance. Earlier, a strong rally from $5.28 to $5.72 was backed by heavy volume, with 897,725 tokens changing hands — significantly above the daily average. Despite this momentum, ICP failed to sustain gains past resistance.

Despite the pullback, Internet Computer remains fundamentally strong. ICP leads all blockchain projects in GitHub development activity, outpacing competitors such as Chainlink and Filecoin, according to the latest rankings from Santiment.

This strong development activity signals ongoing growth and commitment from the ICP team, even as the market shows caution near recent price highs. Analysts attribute the price drop to a combination of technical resistance and broader market hesitance.

Technical Summary