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Internet Computer Protocol (ICP) is a cryptocurrency that remains well off its prior highs, and the drawdown has been significant. From its highs in November, ICP is down over 76%. From the highs earlier this year, it is down more than 52%.
💡 DMK Insight
ICP’s steep decline of over 76% since November raises critical questions for traders looking for recovery opportunities. The significant drawdown indicates a loss of momentum and investor confidence, which could signal further downside risk. Traders should be cautious, especially if ICP fails to hold key support levels. If it breaks below recent lows, it could trigger additional selling pressure. On the flip side, if ICP manages to stabilize and reclaim some of its lost ground, it might attract buyers looking for a bargain. Keep an eye on broader market trends as well; if Bitcoin or Ethereum show strength, it could provide a lift for altcoins like ICP. Watch for any bounce around psychological levels, as these can often act as pivotal points for traders. For now, monitor ICP closely for signs of a reversal or continued weakness, particularly in the next few weeks as market sentiment evolves.
📮 Takeaway
Watch ICP closely for potential support around recent lows; a break could signal further downside, while a bounce might attract buyers.
