Internet Computer Protocol (ICP) has seen a decline of 2.35% over the last 24 hours, trading within a range of $5.14 to $5.40. There has been significant selling pressure concentrated around the $5.24 to $5.28 support zone, with trading volumes indicating institutional distribution and retail weakness. Notably, during this period, ICP experiences volatility marked by a 4% swing, reflecting cautious investor sentiment despite its rankings for blockchain performance speed. Following a quick attempt to breach resistance at $5.40, ICP fell back towards its support corridor at $5.17-$5.20. Trading activity showed robust accumulation with volumes exceeding 643,000 units at support levels, but subsequent selling at resistance near $5.24 formed a descending channel. If the support at $5.17 fails, further pressure could result, prompting traders to watch for any potential rebound signals as the market reassesses positions.

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