-9.12% for Internet Computer as volatility jumps on gap down below $2.80

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Internet Computer drops 9.12% today

Highlights

Internet Computer mainnet surpassed 287 billion transactions, signaling robust growth and expanding on-chain utility for the protocol.
Network sustained high throughput with an average of 2,554 transactions per second and consistent uptime, reinforcing operational reliability.
ICP price remains under persistent selling pressure, trading in a $2.60 to $2.80 range with technical signals skewed bearish as downside risk prevails.

On-chain growth as transactions surge despite price pressure

Internet Computer was reported to have surpassed 287 billion mainnet transactions, reflecting substantial growth in on-chain activity and highlighting the network's operational scale. Additional data showed an average of 2,554 transactions per second over the past week and consistent uptime, further confirming both high throughput and robust reliability. These milestones point to increased fundamental utility for the protocol, though price action has remained under broader selling pressure.

Mixed signals as price tests support with weak trend momentum

On the technical front, ICP is currently positioned below the SMA-20 at $2.83, slightly above the SMA-50 at $2.64, and remains well below the longer-term SMA-200 at $3.03. The D1 Ichimoku Kijun at $3.21 marks a prominent resistance level. Momentum signals remain mixed: MACD is strongly bearish on both daily and weekly timeframes, reinforced by weak ADX readings (D1: 18.58, W1: 12.10), suggesting the absence of a strong trend. Daily RSI sits at 54.77 (mildly bullish), but the weekly RSI reads 48.21, appearing bearish; meanwhile, Stoch RSI is fully overbought at 100, and CCI currently signals a neutral stance. Bull/Bear Power (BBP) indicates strong buyer dominance intraday despite the negative daily move, with significant volatility evident near the session low after a gap down at the open.

Range-bound outlook as upside chances remain limited

Looking ahead to the next five trading days, ICP is likely to remain within a typical volatility band between $2.60 and $2.80 given recent price swings. The probability of a sustained price increase appears low (below 20%), while short-term pressure persists. The baseline scenario calls for range-bound trading between $2.60 (support) and $2.80 (resistance). Should the price break above $2.80, immediate resistance sits at $3.21; conversely, a breakdown below $2.60 could trigger further declines toward new local lows.

Viktoras Karapetjanc, expert at Traders Union, sees fundamental signs of strengthening network adoption in ICP despite near-term price weakness. He notes transaction metrics and uptime show clear demand and operational maturity. Market sentiment remains cautious, but improving underlying usage offers support on the macro and fundamental side. The analyst believes the price is likely to stay range-bound unless broader momentum shifts. "If recent network milestones translate into higher investor confidence, a breakout above $2.80 could quickly change the market tone for ICP."

Earlier, analysts noted that Internet Computer was exhibiting short- to medium-term bullish momentum while remaining constrained by broader technical uncertainty. The current market action, combined with ongoing fundamental growth, signals that traders should pay close attention to volatility near the $2.60 support level as downside risk could intensify if this threshold is breached.

Source of Data: ICP Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.