fell on Monday, falling 11.2% to $6.69 as the token broke below key technical support at $7.00.
The drop extended a week-long pullback following last week’s rally to $8.76, marking one of the ICP’s steepest intraday declines in recent months, according to CoinDesk Research’s technical analysis data model.
Volume spiked to 6.31 million tokens at 04:00 GMT, about 94% above the 24-hour average, confirming a decisive break through support levels. The move established $7.00 as a new resistance level and forced the token into oversold territory near $6.70.
ICP’s chart structure now reflects clear bearish momentum following the failure of $7.00 support, and downward pressure is likely to persist if the token remains below this threshold. Analysts identified between $6.65 and $6.70 as the next key support band, where short-term stabilization could occur before any rebound attempts.
Sustained price action below $7.00 could extend the decline towards $6.50, while a recovery above that level would be required to reestablish a near-term bullish base.
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.
