The recent decline of $ICNT is mainly influenced by the overall market sentiment being low, causing outflows due to adjustments in the cryptocurrency market. Additionally, the project's fundamentals may be experiencing a slowdown or negative news, which undermines investor confidence.
Furthermore, from a technical perspective, the price has broken key support, and the trading volume has shrunk, exacerbating the selling pressure. Large holders selling off and the shift of market focus have also led to funds moving towards other varieties, increasing overall selling pressure and causing prices to continue to decline.
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