ICP dropped 4.28% in the last 24 hours, falling from $3.52 to $3.3735 during a session characterized by a sudden early reversal and continued downward pressure.
The token made a brief attempt to reach the $3.60 mark during its strongest rally, but that effort quickly faltered, establishing a path of steady decline, as noted in CoinDesk Research’s technical analysis model.
A notable increase in trading volume accompanied the short-lived surge to $3.60, reinforcing that level as a significant resistance area. Once this rally failed, ICP began to create a series of lower highs and lower lows, breaching short-term support levels around $3.44, followed by $3.40. The decline exhibited a broad intraday swing of about 9%, in line with the heightened volatility seen in the market this morning.
As the session progressed, ICP’s price action moderated, finding temporary stability around $3.33–$3.35. Multiple small recovery attempts occurred, including a brief rise to $3.36 towards the end of the hour, although each lacked sufficient volume to overcome the newly established resistance. The market subsequently consolidated within a narrow range near the lows, indicating a phase of stabilization rather than a confirmed turnaround.
Current technical indicators depend on whether ICP can reclaim the $3.40 area, which has turned into overhead resistance after the decline. Maintaining a position above $3.33–$3.35 would stabilize the short-term structure, whereas failing to do so would open the possibility for a retest of deeper support levels formed earlier this month.
Disclaimer: Parts of this article were generated with assistance from AI tools and reviewed by our editorial team to ensure accuracy and compliance with our standards. For more information, see CoinDesk’s full AI Policy.
