Internet Computer (ICP) Plummets 99% From All-Time High

Internet Computer (ICP) has recently experienced a significant decline, with its value plummeting to $4.636. This sharp decrease marks a 99% drop from its all-time high of over $400, raising concerns about the protocol's future and its ability to recover. Despite increased on-chain activity and development, ICP's price struggles to rebound due to its declining total value locked (TVL).

On April 21, 2025, ICP's trading day began with notable price action within the trading range. During the early trading session, ICP exhibited an upward trajectory, demonstrating a strong bullish wave. However, at 00:30, ICP encountered an RSI Overbought situation, indicating a trend reversal. At 00:35, ICP resisted at $4.970 and began to experience a short-term fall. A Death Cross on MACD at 01:25 UTC affirmed this short downtrend. Subsequently, at 04:30 UTC, ICP found support at $4.970 and began to move upside. A Golden Cross on MACD at 05:10 UTC asserted this uptrend.

At 08:25 UTC, ICP encountered another RSI Overbought situation, signaling a potential downtrend. As expected, at 08:50 UTC, a pin bar followed by a full-body red candle confirmed the downtrend. ICP resisted at $5.010, began to fall, and kept fluctuating within the moderate trading range. At 15:05 UTC, ICP experienced a sharp fall, breaking the support at $4.822 and dropping to $4.784. A Death Cross on MACD at 15:10 UTC affirmed this downtime. At 18:10 UTC, ICP found support at $4.784, pulled back, and resisted at $4.848. A Death Cross on MACD at 21:05 UTC signaled a potential downtrend, and at 21:15, ICP resisted at $4.848, began to fall, broke the support at $4.784, and closed at $4.774.

On April 22, 2025, ICP’s trading day began with a sharp fall, demonstrating a strong bearish momentum. At 00:25 UTC, ICP encountered an RSI Oversold situation, indicating a potential uptrend. ICP found support at $4.71 and began to move upside. A Golden Cross on MACD at 01:00 asserted this uptrend. However, at 01:35 UTC, a pin bar followed by a full-body red candle signaled a potential downtime. ICP resisted at $4.812, began to fall, broke the support at $4.716, breached a breakout, and dropped to $4.636. A Death Cross on MACD at 02:00 UTC asserted this downtrend.

Conversely, at 06:10 UTC, ICP's price movement encountered an RSI Oversold situation, indicating a potential trend reversal. At 06:40 UTC, ICP found support at $4.636 and began to move up. A Golden Cross on MACD at 07:05 UTC confirmed this uptrend. Subsequently, at 07:35 UTC, ICP resisted at $4.749 and experienced a short downtime. However, at 09:45 UTC, ICP found support at $4.657 and moved upward.

One of the key factors being considered for ICP's potential recovery is the integration of artificial intelligence (AI) into the ICP ecosystem. AI integration could enhance the protocol's capabilities and make it more competitive in the market. Analysts anticipate that this development could spark a rebound for ICP, potentially reversing the recent decline in its value. However, it remains to be seen whether this integration will be sufficient to drive a sustained recovery. The situation is being closely monitored by industry experts and investors as they await further developments.