ICP Price Slides as Key Support Breaks Amid Surging Volume

Internet Computer (ICP) extended its downturn over the past 24 hours, trading around $4.36 after a sharp fall below the long-standing $4.33 support level. The drop followed one of the steepest intraday declines in recent weeks, with ICP plunging rapidly from $4.97 to $4.30, a move largely driven by technical factors rather than fundamentals, according to CoinDesk Research’s market data.

Trading activity spiked significantly during the European morning session on Friday, reaching 7.86 million tokens, a massive 224% increase compared with the previous 24-hour average. This surge in volume aligned precisely with the breakdown of the crucial $4.33 support—an area that had consistently acted as a rebound zone throughout October and early November. Once this level failed, sellers quickly pushed the price into the $4.20–$4.30 range, where ICP briefly steadied before slipping back into a narrow consolidation pattern.

Intraday data captured a small recovery attempt at 13:41 UTC, with ICP ticking up to $4.344 on heightened volume. Although this suggested temporary stabilization around the psychological $4.30 threshold, buying interest faded just as quickly. The token soon dipped again toward $4.298, reinforcing the broader bearish momentum that continues to weigh on the market.

With no new fundamental catalysts emerging, ICP’s price movement remains heavily dictated by technical levels. A new resistance zone has formed near $4.69, the region where selling pressure intensified earlier in the week. The market now sits tightly between $4.30–$4.34, leaving limited room for decisive trends until traders return with stronger volume.

For bulls to regain control, a convincing move back above $4.33 is essential. Otherwise, bears are likely to push for another test of the $4.20 support floor if downward pressure persists.