During a significant cryptocurrency market drop on August 17, Internet Computer (ICP), SUI, and Apecoin (APE) all fell to new all-time lows.
While ICP has not yet closed below its main horizontal support level, SUI and APE crashed through theirs without a bounce.
Internet Computer (ICP) Price Closes Below $3.50
The ICP price has fallen under a descending resistance line since reaching a yearly high of $8.23 on February 18. The decrease led to a low of $3.35 on June 10, and the price bounced at the $3.50 horizontal support area (green icon).
However, ICP failed to sustain its increase. Rather, it was rejected by the resistance line again on August 14 and fell to a new all-time low price of $3.15 three days later.
Despite the decrease, the ICP price has not yet closed below the $3.50 horizontal support area. As long as it does not do that, the potential for a bullish trend reversal still remains.
If the decrease continues, the ICP price can fall by another 25% and reach the next support at $2.58. Since the price is at an all-time low, the
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Author: Valdrin Tahiri
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