has retreated below the $3.00 mark, Dropping 3.2% to $2.9891 Following a decisive rejection from the resistance level of $ 3.15.
The move was capped by a volatile 24-hour session that saw the token trade between $2.98 and $3.17, as heavy selling momentum pushed prices back to the lower end of the established range, according to Coindesk
The most pronounced sell-off appeared around 18:00 GMT on October 29, when trading volume hovered around 2.67 million tokens, approximately 290% above average. The surge coincided with ICP’s failure to extend past gains of $3.15, cementing that ceiling as an effective technical barrier. Following the rejection, the token entered a solid decline, which eventually broke below the $3.04 support in early European morning.
Subsequent price action showed compression, with a narrower hourly range signaling potential stabilization. The $2.97 zone again acted as a support floor, absorbing downside pressure. However, the sequence of lower highs and lower lows indicates sustained bearish momentum, and the $3.04-$3.05 range serves as immediate resistance for any rebound attempt.
Overall, the ICP technical setup reflects a consolidation phase between $2.97 and $3.15, with no clear breakout catalysts. Traders continue to monitor whether the volume contraction suggests selling fatigue or a prelude to a new directional move. So far, scope adjustment techniques have dominated as ICP oscillates within this well-defined corridor.
Disclaimer: Parts of this article were generated with help from AI tools and reviewed by our editorial team to ensure accuracy and compliance with our standards. For more information, see Coindesk’s full AI policy.
