The post ICP Price Retreats to $5.35 After Sharp Reversal From Weekly Highs appeared on BitcoinEthereumNews.com.

Timothy Morano
Aug 12, 2025 10:33

Internet Computer (ICP) drops 5.12% to $5.35 following heavy distribution at $5.75 resistance, with RSI signaling potential oversold bounce opportunity.

Quick Take • ICP currently trading at $5.35 (-5.12% in 24h) • Internet Computer’s RSI at 48.95 suggests neutral momentum with potential for reversal • Sharp decline from $5.75 high triggered by heavy selling pressure and distribution What’s Driving Internet Computer Price Today? The ICP price faced significant downward pressure over the weekend, retreating sharply from its recent high of $5.75 reached on August 11. This decline represents one of the most impactful events for Internet Computer in recent trading sessions, with the token dropping to current levels around $5.35 amid heavy distribution activity. The selling pressure was particularly intense, with trading volume surging to 965,595 units on Binance – nearly double the typical 24-hour average. This volume spike indicates that institutional or large holders were actively reducing their positions, creating the downward momentum that pushed ICP price below key technical levels. Despite this recent bearish action, earlier in the week Internet Computer showed promising signs when ICP price gained 2.29% on August 8, rising to $5.37 on strong volume. However, this positive momentum was ultimately overshadowed by the subsequent distribution event, highlighting the current market’s fragile sentiment around Internet Computer. ICP Technical Analysis: Mixed Signals Emerge Internet Computer technical analysis reveals a complex picture with both bullish and bearish elements present. The most significant indicator is Internet Computer’s RSI at 48.95, placing ICP RSI in neutral territory but approaching oversold conditions that could trigger a bounce. The MACD histogram shows a bullish reading of 0.0099, suggesting that despite the recent decline, underlying momentum for Internet Computer may be shifting positive. This divergence between price action…

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Filed under: News - @ August 13, 2025 4:25 am