ICP Drops Following $4.00 Breakdown, Volatility Surges

ICP Drops 7% After Breaking Key $4.00 Support, Volatility Rises

ICP fell 7.3% over the past 24 hours, trading near $3.7065 after decisively breaking below the $3.99–$4.00 support zone.

The token’s decline spanned an 11.3% intraday range, with the sharpest losses occurring during a high-volume flush around 23:00 UTC on November 30, according to CoinDesk Research’s technical analysis model. The breakdown was accompanied by a spike of 1.83 million tokens—approximately 300% above the short-term average—highlighting the importance of the $3.99 level.

Momentum continued into December 1, with total volume reaching 6.85 million tokens, one of ICP’s highest recent readings. Prices later stabilized in the $3.55–$3.65 range before recovering slightly to $3.69–$3.70.

Despite the modest rebound, the overall structure remains bearish, with a clear series of lower highs and resistance established at the former $3.99–$4.00 support. Intraday data shows narrow consolidation between $3.645–$3.700, followed by a small lift with localized volume support, which has reinforced near-term support but has not yet reversed the downward trend.