fell sharply over the last 24-hour window, falling 7.3% to trade near $3.7065 as the token decisively broke below the $3.99-$4.00 support band.
The move developed in an intraday range of 11.3%, with the steepest losses occurring during a surge of high volume near 23:00 UTC on November 30, according to CoinDesk Research’s technical analysis data model.
A significant increase in volume (1.83 million tokens, approximately 300% above the short-term average) accompanied the drop to $3.99, reinforcing the technical importance of that level. The momentum extended until December 1, with total volume reaching 6.85 million tokens, one of the highest ICP readings in recent days.
The price eventually stabilized in the $3.55 to $3.65 area, forming a short-term base before recovering towards $3.69 to $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 tight consolidation between $3,645 and $3,700, followed by a small rise that coincided with a localized volume rebound. That move helped reinforce the short-term support band, but still did not alter the overall downward trajectory.
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.
