ICP Extends Slide as Heavy Volume Confirms Breakdown Below Support

ICP is experiencing a significant decline, currently trading around $4.369 after breaking below the crucial support level of $4.33. This drop was marked by a drastic selloff that saw the token decrease from $4.97 to $4.30 in a short period. Notably, trading volume surged to 7.86 million tokens, a 224% increase above the average, confirming the breakdown under the previous support level. The decline has established new resistance at $4.69, while lower support is now focused on the $4.20 level. Despite a minor rebound earlier in the day, the price quickly fell again, showing that momentum remains negative. For ICP to regain a stable position, it needs to reclaim the $4.33 level; otherwise, a retest of the $4.20 support is likely if volume continues skewing downwards.

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