ICP Plunges Below $7: What Happens Next Will Shock You!

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Markets

What to know:

  • ICP tumbled 11.2% to $6.69, obliterating that all-important $7.00 support like it was made of paper.
  • Trading volume surged a jaw-dropping 94% above the 24-hour average-yes, you read that right, a 94% spike.
  • In the final hour, the token’s collapse was so swift it made you wonder if it was in a race with gravity, plummeting to a low of $6.67.

Ah, Monday-the day ICP decided to send its investors into a frenzy. The token took a dramatic 11.2% plunge to $6.69, smashing through the sacred $7.00 support level as though it were an obstacle in an absurdist play. It was like a well-scripted tragedy, complete with a surprise twist: the decline has been steadily unfolding for the past week, a perfect follow-up to the previously “hopeful” $8.76 rally. Alas, the fairytale didn’t last long-ICP’s descent was the stuff of nightmares. CoinDesk’s technical research (bless them) tells us this was one of the sharpest drops seen in months. Maybe next time, ICP, try a more graceful exit.

But wait-there’s more! Volume? Well, that spiked to a staggering 6.31 million tokens at 04:00 GMT. In case you don’t do math in your sleep, that’s about 94% above the 24-hour average, confirming that the support levels had been decisively broken, like a door smashed by an angry mob. Welcome to the new normal: $7.00 is now resistance, and our dear token has been unceremoniously pushed into the depths of oversold territory at $6.70. Cheers to that, right?

The charts? Oh, they’re absolutely screaming “bearish.” After $7.00 crumbled like a poorly built house of cards, all eyes are now on the next potential support: the $6.65-$6.70 band. Should this area hold, maybe we’ll see some sort of recovery. But let’s not get our hopes up too high-short-term stabilization is likely the best we can hope for. It’s all very suspenseful, really. If the price stays below $7.00, don’t be surprised if we see a thrilling plunge toward $6.50. On the other hand, a miraculous recovery above $7.00 could change everything. Maybe there’s still hope for this beleaguered token… or maybe not. Stay tuned, folks.

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2025-11-10 20:09