declined sharply over the last 24-hour window, sliding 7.3% to trade near $3.7065 as the token decisively broke below the $3.99 to $4.00 support band.
The move took place over an intraday range of 11.3%, with the largest losses occurring during high volume around 11:00 p.m. UTC on November 30, according to CoinDesk Research’s technical analysis data model.
A major volume spike – 1.83 million tokens, approximately 300% above the short-term average – accompanied the breakdown up to $3.99, reinforcing the technical importance of this level. The momentum continued downward through December 1, with total volume reaching 6.85 million tokens, one of the highest numbers for ICP in recent days.
The price eventually stabilized in the $3.55-$3.65 area, forming a short-term base before moving back towards $3.69-$3.70. Despite the bounce, the broader structure remains bearish, with a clear series of lower highs visible on the chart and resistance now firmly established at former support at $3.99 to $4.00.
Intraday data shows a period of narrow consolidation between $3,645 and $3,700, followed by a slight increase that coincided with a localized rise in volume. This move has helped strengthen the short-term support band but has not yet changed the overall downward trajectory.
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.
