ICP fell 4.28% over the past 24 hours, falling from $3.52 to $3.3735 in a session defined by a sharp early reversal and sustained downward momentum.
The token briefly pushed towards the $3.60 area during its strongest rally attempt, but the move quickly stalled, setting the tone for the steady, 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 this level as a meaningful resistance zone. When the rally failed, ICP formed a sequence of lower highs and lower lows, moving through short-term support levels around $3.44 and later $3.40. The decline tracked a broad intraday range of around 9%, which is consistent with the elevated volatility seen across the market during the morning hours.
Later in the session, price action slowed as ICP found temporary foothold near $3.33-$3.35. Several small recovery attempts emerged, including a brief push to $3.36 over the last hour, though each lacked the volume needed to challenge newly formed resistance. The market instead fell into a narrow band near the lows, suggesting consolidation rather than confirmed reversal.
Technicals now hinge on whether ICP can regain the $3.40 zone, which has turned into overhead resistance after the breakdown. Holding above $3.33-$3.35 would help stabilize the near-term structure, while failure to do so would leave the door open for a retest of deeper support levels established earlier this month.
Disclaimer: Portions of this article were generated with the help of AI tools and reviewed by our editorial staff to ensure accuracy and compliance with our standards. For more information, see CoinDesk’s full AI policy.
