slipped on Monday, falling 11.2% to $6.69 as the token fell below key technical support at $7.00.
The drop extended a week of decline following last week’s rally to $8.76, marking one of ICP’s sharpest intraday declines in recent months, according to CoinDesk Research’s technical analysis data model.
Volume reached 6.31 million tokens at 04:00 GMT, approximately 94% above the 24-hour average, confirming a decisive breakdown of support levels. This move established $7.00 as a new resistance level while forcing the token into oversold territory near $6.70.
ICP’s chart structure now reflects clear bearish momentum following the failure of $7.00 support, with downward pressure likely to persist if the token remains below this threshold. Analysts have identified between $6.65 and $6.70 as the next key support band, where short-term stabilization could take place before any attempt at a rebound.
Sustained price action below $7.00 could extend the decline to $6.50, while a recovery above this level would be necessary to reestablish a near-term bullish base.
Disclaimer: Portions of this article were generated with the help of AI tools and reviewed by our editorial team for accuracy and compliance. our standards. For more information, see CoinDesk Comprehensive AI Policy.
