Internet Computer (ICP) is under pressure as it approaches the $2.80 support level, following a 5.35% drop in 24 hours and an 8.7% decline over the past week. The downturn comes amid a broader contraction in the crypto AI sector, which saw its market capitalization decrease from $22.61 billion to $21.01 billion since May 9. The recent delisting of the ICP/USDT pair by Coinbase has contributed to the token's struggles, although other ICP-related services remain active on the exchange. The token's price structure remains bearish, with ICP falling back into a range between $2 and $2.84 after a 30.8% decline from its recent high of $4.09. Historical data suggests that the $2.8 level has served as both support and resistance since December 2025. However, the 365-day MVRV ratio indicates potential for further losses, as profit-taking activity has historically followed when this metric enters positive territory. If the pattern persists, ICP could test the $2.2-$2.3 range later this month.