ICP fell 5% in 24 hours to $3.4945, reversing early attempts to regain lost ground and breaking below several near-term support levels.
The token briefly traded as high as $3.7605 before momentum faded and a broad retracement pulled the price steadily lower, according to CoinDesk Research’s technical analysis data model.
The 24-hour trading window spanned a $0.28 range, reflecting 8% intraday volatility as repeated recovery attempts encountered resistance costs.
Volume reached 2.6 million tokens, with the most active period occurring during a sharp sell-off shortly after 00:00 p.m. 00:00 UTC Wednesday. This drop pushed ICP back towards $3.55, erasing the previous day’s rally and re-establishing a broader bearish pattern.
The price then entered a stabilization phase in the $3.50-$3.55 band before a late-session decline took ICP to a low of $3.4782.
The decline continues a multi-day pattern in which ICP repeatedly fails to hold above near-term resistance levels. Technical observers are now monitoring whether the token can stay above the $3.45-$3.50 range that has acted as a buffer in early December. A sustained break below this zone would open the door to a retest of deeper November levels, while any rally above $3.55 would indicate early signs of momentum repair.
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.
