Internet Computer (ICP)
– ICP fell to a new all-time low during a cryptocurrency market drop on August 17.
– While ICP has not closed below its main support level, it failed to sustain an increase and was rejected by the resistance line.
– If the decrease continues, ICP could fall by another 25% to the next support level at $2.58. On the other hand, a breakout could lead to a 30% increase to the next resistance at $4.50.
SUI
– SUI also fell to a new all-time low during the market drop on August 17.
– The price has fallen under a descending resistance line since June 22 and has experienced multiple rejections.
– If the price bounces, it could reach the resistance line at $0.55, an increase of 17%. However, if it continues to decrease, the next support level is at $0.41, a drop of 15%.
Apecoin (APE)
– APE has fallen inside a descending parallel channel since June 17.
– The price broke down from the $1.80 support area on August 17 and reached a new all-time low of $1.34.
– A strong bounce at the channel’s support line could lead to a 20% increase to $1.80. However, a breakdown from the channel could take the price to $1.11, a drop of 26%.
Hot Take
The cryptocurrency market drop on August 17 had a significant impact on Internet Computer (ICP), SUI, and Apecoin (APE), with all three coins falling to new all-time lows. While ICP still has potential for a bullish trend reversal, SUI and APE face challenges in finding support. It will be interesting to see if these coins can bounce back or if they will continue to struggle in the current market conditions.
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