The ICP decreased by 4.28% in the last 24 hours, going from $3.52 to $3.3735 in a session defined by a strong early reversal and sustained bearish momentum.
The token briefly pushed towards the $3.60 area during its strongest recovery attempt, but the move quickly stalled and set the tone for the steady and directional decline, according to CoinDesk Research’s technical analysis data model.
A significant increase in volume accompanied the short-term rally to $3.60, confirming that level as a significant resistance zone. Once the rally failed, the ICP formed a sequence of lower highs and lower lows, moving through short-term support levels around $3.44 and then $3.40. The drop traced a wide intraday range of approximately 9%, consistent with the high volatility observed throughout the market during the morning hours.
Later in the session, the price action slowed as the ICP found a temporary base near $3.33-3.35. Several small recovery attempts emerged, including a brief boost to $3.36 over the past hour, although each lacked the volume needed to challenge the newly formed resistance. Instead, the market settled into a narrow band near the lows, suggesting consolidation rather than a confirmed reversal.
Technical conditions now depend on whether the ICP can reclaim the $3.40 zone, which has become overhead resistance following the breakout. Holding above $3.33-$3.35 would help stabilize the structure in the near term, 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 artificial intelligence tools and were reviewed by our editorial team to ensure accuracy and compliance. our standards. For more information, see CoinDesk’s full AI policy.
