ICP Drops Further After Falling Below $3.40, Reinforcing Downward Momentum

ICP fell 4.28% over the past 24 hours, sliding from $3.52 to $3.3735 amid a sharp early reversal and sustained downward pressure.

The token briefly pushed toward $3.60 during its strongest rally attempt, but the move quickly stalled, establishing that level as a key resistance zone, according to CoinDesk Research’s technical analysis. High trading volume during the rally confirmed the resistance, while subsequent price action formed a series of lower highs and lower lows, breaking short-term supports near $3.44 and $3.40. The intraday range spanned roughly 9%, reflecting elevated volatility across the crypto market.

Later, ICP found temporary support between $3.33 and $3.35. Minor recovery attempts, including a brief push to $3.36 in the final hour, failed to generate enough volume to challenge resistance. The market ultimately settled into a narrow range near the lows, indicating consolidation rather than a confirmed reversal.

Looking ahead, ICP’s short-term outlook depends on reclaiming the $3.40 level, now acting as overhead resistance. Holding support near $3.33–$3.35 could stabilize the structure, while a breakdown below this range may lead to a retest of deeper support levels set earlier in the month.