ICP Extends Decline as Breakdown Below $3.40 Reinforces Bearish Structure

ICP experienced a significant decline, falling 4.28% over 24 hours from $3.52 to $3.3735, driven by a sharp early reversal. An attempt to rally toward $3.60 failed, confirming that level as strong resistance, which was validated by a significant volume spike. Following this failure, ICP established a bearish pattern of lower highs and lower lows, breaking through short-term support at $3.44 and then $3.40. The token found temporary consolidation near $3.33–$3.35, but technical conditions now suggest that regaining the $3.40 zone is crucial, as it has flipped into overhead resistance. Failure to hold above $3.33–$3.35 could lead to a retest of deeper support levels.

(Source：CoinDesk)