ICP fell 5% in 24 hours to $3.4945, reversing early makes an attempt to regain misplaced floor and breaking beneath a number of short-term assist ranges.
The token briefly traded as excessive as $3.7605 earlier than momentum light and a broad retracement pulled the value steadily decrease, based on CoinDesk Analysis’s technical evaluation knowledge mannequin.
The 24-hour buying and selling window spanned a $0.28 vary, reflecting 8% intraday volatility as repeated restoration makes an attempt encountered resistance overhead.
Quantity reached 2.6 million tokens, with essentially the most energetic interval occurring throughout a pointy sell-off shortly after 00:00 UTC on Wednesday. That decline drove ICP again towards $3.55, erasing the prior day’s rebound and reestablishing a broader downward construction.
The worth then entered a stabilization section within the $3.50–$3.55 band earlier than a late-session drop carried ICP to lows of $3.4782.
The decline continues a multiday sample with ICP repeatedly failing to carry above short-term resistance ranges. Technical observers are actually monitoring whether or not the token can stay above the $3.45–$3.50 space that has served as a buffer all through early December. A sustained break beneath this zone would open the door to a retest of deeper November ranges, whereas any rebound above $3.55 would point out early indicators of momentum restore.
Disclaimer: Elements of this text had been generated with the help from AI instruments and reviewed by our editorial group to make sure accuracy and adherence to our requirements. For extra data, see CoinDesk’s full AI Coverage.
