ICP Extends Decline as Range Support Breaks, Testing New Lows Near $3.48

ICP fell 5% in 24 hours to $3.4945, reversing early attempts to regain lost ground and breaking below several short-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 overhead.

Volume reached 2.6 million tokens, with the most active period occurring during a sharp sell-off shortly after 00:00 UTC on Wednesday. That decline drove ICP back toward $3.55, erasing the prior day’s rebound and reestablishing a broader downward structure.

The price then entered a stabilization phase in the $3.50–$3.55 band before a late-session drop carried ICP to lows of $3.4782.

The decline continues a multiday pattern with ICP repeatedly failing to hold above short-term resistance levels. Technical observers are now monitoring whether the token can remain above the $3.45–$3.50 area that has served as a buffer throughout early December. A sustained break below this zone would open the door to a retest of deeper November levels, while any rebound above $3.55 would indicate early signs of momentum repair.

Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.