ICP Slides 7% After Breaking $4.00 Support Amid Elevated Volatility
ICP fell 7.3% over the past 24 hours, trading near $3.7065 after breaking decisively below the $3.99–$4.00 support zone.
The drop occurred across an 11.3% intraday range, with the steepest losses hitting during a high-volume flush around 23:00 UTC on November 30, according to CoinDesk Research’s technical model. The breakdown came with a surge of 1.83 million tokens—roughly 300% above the short-term average—highlighting the technical significance of the $3.99 level.
Momentum extended into December 1, with total volume reaching 6.85 million tokens, one of the highest for ICP in recent days. Prices later stabilized in the $3.55–$3.65 range before recovering slightly to $3.69–$3.70.
Despite the brief rebound, the broader trend remains bearish. A clear series of lower highs has formed, with former support at $3.99–$4.00 now acting as resistance. Intraday consolidation between $3.645–$3.700, coupled with a minor volume uptick, reinforced near-term support but has not yet altered the overall downward trajectory
