ICP fell 5% in 24 hours to $3.4945, reversing early attempts to regain lost ground and breaking below several short-term support levels.
The token briefly traded as high as $3.7605 before momentum faded and a broad pullback sent the price steadily lower, according to CoinDesk Research’s technical analysis data model.
The 24-hour trading window spanned a range of $0.28, reflecting intraday volatility of 8% as repeated recovery attempts met overhead resistance.
Volume reached 2.6 million tokens, with the most active period occurring during a sharp sell-off shortly after 00:00 UTC on Wednesday. That drop brought the ICP back to $3.55, erasing the previous day’s bounce and reestablishing a broader bearish structure.
The price then entered a stabilization phase in the $3.50 to $3.55 band before a late session drop took the ICP to lows of $3.4782.
The decline continues a multi-day pattern of the ICP failing to stay above short-term resistance levels. Technical observers are now monitoring whether the token can hold above the $3.45 to $3.50 area that has served as a buffer throughout early December. A sustained break below this zone would open the door for a retest of the deeper November levels, while any rebound above $3.55 would indicate early signs of regaining momentum.
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.
