ICP fell 5% in 24 hours to $3.4945, reversing early attempts to regain lost ground and falling below several near-term support levels.
The token briefly traded as high as $3.7605 before momentum faded and a broad retracement caused the price to fall steadily, according to CoinDesk Research’s technical analysis data model.
The 24-hour trading window spanned a range of $0.28, reflecting intraday volatility of 8% as repeated recovery attempts encountered higher resistance.
Volume reached 2.6 million tokens, with the most active period occurring during a heavy sell-off shortly after 00:00 UTC on Wednesday. This decline brought ICP back towards $3.55, erasing the previous day’s rebound and reestablishing a broader bearish structure.
The price then entered a stabilization phase in the $3.50 to $3.55 band before a late session decline took ICP to a low of $3.4782.
The decline continues over several days as ICP fails to hold above near-term resistance levels. Technical observers are now monitoring whether the token can stay above the $3.45 to $3.50 zone that served as a buffer throughout December. A sustained break below this zone would open the door to a retest of deeper November levels, while any rebound above $3.55 would indicate early signs of momentum repair.
Disclaimer: Portions of this article were generated with the help of AI tools and reviewed by our editorial team to ensure accuracy and compliance. our standards. For more information, see CoinDesk Comprehensive AI Policy.
