ICP once again faces resistance at $3.78, with a 24-hour decline of 1.6%, and risk aversion sentiment spreading across the entire altcoin sector. On the market level, the Fear & Greed Index has fallen to 30, and Bitcoin dominance is as high as 58.9%. The story behind this is clear — after a weekly increase of 22.6%, short-term funds began to take profits.

From a technical perspective, ICP failed to hold the key support at $3.78, and the overall structure remains bearish. Looking downward, recent support levels are in the $2.90-$2.75 range. If this zone is broken, a deeper correction may be imminent. Relatively, the $3.20-$3.30 range becomes a critical resistance, requiring a rebound and breakthrough to reverse the short-term trend.

In the macro context, risk assets are under overall pressure, and the weak performance of altcoins may continue. Investors should exercise caution.