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ICP's 35% Drawdown and the Long Arc of the Internet Computer Bet There is something almost ritualistic about the way Internet Computer (ICP) traders cycle through hope and capitulation.
The token now sits near $2.62, having shed roughly 35% from a local high above $4.00 only a few weeks ago.
On the daily chart, the price has slipped below the Bollinger mid-band at $2.79, an unflattering position that hands the narrative to sellers and forces buyers to defend the $2.55 line as if it were the last guardrail before a longer slide toward $2.30.
The 4-hour picture is more honest still: a tidy sequence of lower highs and lower lows, an RSI bruised down to 24, and price trading beneath every Alligator moving average that chart software bothers to plot.
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