ICP Breaks $4.33 Support as Volume Surge Accelerates Downtrend
Internet Computer (ICP) fell below the key $4.33 support on Friday, with a surge in trading volume confirming a decisive technical breakdown.
The token plunged from $4.97 to $4.30 in a rapid, technically-driven decline, according to CoinDesk Research’s analysis. Early European trading saw activity spike to 7.86 million tokens, a 224% increase above the 24-hour average, coinciding with the collapse of the $4.33 floor—a level that had acted as a reliable rebound point in October and early November. The breach propelled ICP into the $4.20–$4.30 zone, where price briefly stabilized before entering a tight consolidation range.
ICP attempted a minor recovery at 13:41 UTC, climbing to $4.344 on elevated volume, suggesting short-term stabilization near $4.30. However, buying momentum faded quickly, and the token slid again toward $4.298, indicating that bearish momentum remains firmly in control.
In the absence of new fundamental catalysts, technical levels are driving trading behavior. Resistance has formed at $4.69, the level where selling pressure intensified, and ICP now trades within a narrow $4.30–$4.34 consolidation zone.
A sustained move above $4.33 is needed to shift momentum, while continued selling could push ICP toward the $4.20 support floor, especially if volume remains skewed toward downside pressure.
