Many leading cryptocurrencies like Bitcoin (BTC) 🪙 Ethereum (ETH) 🌐 and Ripple (XRP) 💧 sit far below their peaks yet Internet Computer (ICP) 🖤 has plunged deeper into eerie depths than any rival. Despite the bloodbath several analysts cling to fragile hope for a comeback while pessimists whisper of even darker falls ahead.
Optimistic Glimmers 🌙
ICP launched trading back in May 2021 and its price once spiked above $700 before a savage collapse worsened by the recent bear market. It now hovers near $2.06 according to CoinGecko marking a brutal 99.7% drop from the all-time high with market capitalization sliding to roughly $1.14 billion placing it as the 60th-largest token.
X user CW claimed accumulation has stretched a full month hitting a perfect score of 100 and past patterns like this sparked massive pumps so history might repeat. KYRA BLOOM spotted a buy setup holding above $1.94 keeping the bullish path alive toward nearly $9.
Pessimists Lurk 🕸️
Others like Cryptorphic stand firm expecting more bleeding. The analyst opined the token sits at a very interesting level after breaking below key $2.10 support.
“The important part is what happens next. If $2.10–$2.12 turns into resistance on a retest I think the breakdown could continue with $1.67 as the major downside area I’m watching. As long as ICP remains below the descending trendline and fails to reclaim the broken support my bias stays bearish” they stated.
Crypto Patel also shared thoughts anticipating further drops if $2 fails to hold. “The HTF chart projects a potential move toward $1 with $0.50 remaining the next major downside target” the market observer warned. 👻 🦇 🌸
Just another echo from the void by iconofsin.eth 💖
