Internet Computer (ICP) experienced a significant price decline, falling to the 55th-largest cryptocurrency by market cap. Its value dropped roughly 10%, making it the worst-performing top-100 asset amid a broader market correction. Analysts point to technical indicators suggesting the sell-off may be overextended, while some market observers maintain a bullish long-term outlook for the token.
Internet Computer’s ICP token fell approximately 10% in valuation, making it the poorest performer among the top 100 cryptocurrencies. This retreat pushed its ranking down to 55th place with a market capitalization near $1.6 billion.
The asset’s price slid under $3, reaching a one-week low. This decline occurred alongside a broader market correction where Bitcoin dropped below $80,000 and other major altcoins fell 7-8%.
The exchange Coinbase recently removed several non-USD trading pairs, including ICP/USDT and ICP/GBP. Such actions can reduce liquidity and make trading more difficult for affected tokens.
However, ICP remains listed on other major platforms including Binance, Bybit, and OKX. Its Relative Strength Index (RSI) currently stands around 28, a level some analysts consider indicative of an oversold condition.
Analyst Kong Trading noted that nearly half of ICP’s supply is locked in long-term staking. “That’s not weak conviction. Hard to ignore when supply keeps tightening like this,” they stated.
Another analyst, JAVON MARKS, previously argued that ICP displayed a Falling Wedge pattern showing strength. They suggested a potential breakout could lead to significant upward movement.
