ICP Slides 7% After Breaking $4.00 Support Amid Elevated Volatility

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

The decline unfolded across an 11.3% intraday range, with the sharpest losses occurring during a high-volume sell-off around 23:00 UTC on November 30, according to CoinDesk Research’s technical model. A surge of 1.83 million tokens—roughly 300% above the short-term average—accompanied the breakdown, emphasizing the technical importance of the $3.99 level.

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

Despite the modest rebound, the broader trend remains bearish. A series of lower highs has formed, with the former $3.99–$4.00 support now acting as resistance. Intraday consolidation between $3.645–$3.700, coupled with a minor uptick in volume, has reinforced short-term support but has not altered the overall downward trajectory.