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.

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