“Sharp 24-hour decline sends Internet Computer into fresh multi-day lows, with a high-volume support breach defining the session”, — write: www.coindesk.com
The move unfolded across an 11.3% intraday range, with the steepest losses occurring during a high-volume flush near the 23:00 UTC hour on November 30, according to CoinDesk Research’s technical analysis data model.
A major volume spike — 1.83 million tokens, roughly 300% above the short-term average — accompanied the breakdown through $3.99, reinforcing the technical significance of that level. Momentum extended lower into December 1, with total volume reaching 6.85 million tokens, one of the highest readings for ICP in recent days.
Price eventually steadied in the $3.55–$3.65 zone, forming a short-term base before recovering towards $3.69–$3.70. Despite the bounce, the broader structure remains bearish, with a clean series of lower highs visible on the chart and resistance now firmly established at the former $3.99–$4.00 support.
Intraday data shows a period of narrow consolidation between $3,645–$3,700, followed by a small lift that coincided with a localized volume uptick. That move helped reinforce the near-term support band but did not yet alter the overall downward trajectory.
Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.
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The average network hashrate fell 1% last month after hitting record highs in October.
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