ICP declined 4.28% over the past 24 hours from $3.52 to $3.3735 in a session defined by a sharp early reversal and sustained downside momentum.
The token briefly pushed toward the $3.60 area during its strongest rally attempt, but the move quickly stalled and set the tone for a steady, directional decline, according to CoinDesk Research’s technical analysis data model.
A significant volume spike accompanied the short-term rally up to $3.60, confirming this level as a significant resistance area. After the rally failed, ICP formed a sequence of lower highs and lower lows, passing through short-term support levels around $3.44 and then $3.40. The decline followed a wide intraday range of around 9%, consistent with the high volatility seen in the market during the morning.
Later in the session, price action slowed as ICP found a temporary position near $3.33 to $3.35. Several small recovery attempts emerged, including a brief surge to $3.36 over the past hour, although each lacked the volume to challenge the newly formed resistance. The market instead settled into a narrow band near the lows, suggesting consolidation rather than a confirmed reversal.
Technical conditions now depend on ICP’s ability to regain the $3.40 area, which turned into overhead resistance after the breakdown. Sustaining above $3.33 to $3.35 would help stabilize the near-term structure, while failure to do so would leave the door open to a retest of the deeper support levels established earlier in the month.
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.
