ICP experienced a 5% decline over the past 24 hours, dropping to $3.4945. This shift reverses earlier efforts to recover and falls beneath multiple short-term support levels.
The token briefly reached a high of $3.7605; however, diminishing momentum and a broader market correction dragged the price lower, based on technical analysis data from CoinDesk Research.
During the 24-hour trading period, there was a price fluctuation of $0.28, indicating an 8% intraday volatility as multiple recovery attempts faced resistance overhead.
Trading volume hit 2.6 million tokens, with the most active trading occurring during a significant sell-off shortly after 00:00 UTC on Wednesday. This downturn pushed ICP down toward $3.55, negating the previous day’s gains and reinforcing a larger downward trend.
The price then stabilized in the $3.50–$3.55 range before a late-session dip brought ICP down to $3.4782.
This ongoing decline aligns with a multi-day trend where ICP has struggled to maintain levels above short-term resistance. Analysts are now watching to see if the token can stay above the $3.45–$3.50 range, which has acted as a support area throughout early December. A sustained drop below this range could indicate a potential retest of deeper levels from November, while any recovery above $3.55 might suggest initial signs of momentum restoration.
Disclaimer: Parts of this article were generated with the assistance of AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For further details, see CoinDesk’s complete AI Policy.
