ICP fell 5% in 24 hours to $3.4945, reversing early attempts to regain ground and falling below several short-term support levels.
According to CoinDesk Research’s technical analysis data model, the coin briefly reached as high as $3.7605 before momentum faded and a sharp correction sent the price steadily lower.
The 24-hour trading window spans the $0.28 range, reflecting intraday volatility of 8% as repeated recovery attempts run into resistance above.
Trading volume reached 2.6 million coins, with the most active period occurring during a sharp sell-off shortly after 00:00 UTC on Wednesday. This decline pushed ICP back to $3.55, erasing the previous day’s bounce and re-establishing a broader downside structure.
Prices then plateaued in the $3.50-$3.55 range before falling late in the session, with ICP falling to a low of $3.4782.
The decline continued in a multi-day pattern, with ICP repeatedly failing to hold short-term resistance levels. Technical observers are now monitoring whether the coin can hold above the $3.45 to $3.50 area, which served as a buffer zone throughout early December. A sustained move below this area would open the door to a retest of deeper November levels, while any bounce above $3.55 would be an early sign of momentum restoration.
Disclaimer: Portions of this article were generated with the help of artificial intelligence tools and reviewed by our editorial team for accuracy and compliance Our standards. For more information, see CoinDesk’s complete artificial intelligence policy.
