ICP Price Crashes Below Key Support, Hits New Low at $3.48 - Bearish Trend Analysis

The Internet Computer (ICP) token has entered a sharp downtrend, decisively breaking below its crucial range support level. This breakdown has propelled ICP to test new local lows, with the price hovering dangerously around the $3.48 mark. The sustained selling pressure indicates a strong bearish momentum in the market. Technical analysis suggests that the failure to hold previous support zones could lead to further declines if buyers do not step in. Traders and investors are closely monitoring the $3.40-$3.50 region for any signs of a potential reversal or continuation of the downward move. The current market sentiment for ICP remains overwhelmingly negative as it searches for a new stability floor.