Continuing to battle overhead pressure during the latest 24-hour trading window, Trading near $4.80 after slipping below the $4.95 support level.
The token moved within a $0.48 intraday range, reflecting 9.6% volatility as repeated attempts to recover the higher level stuck, according to Coindesk Research’s technical analysis data model.
A major inflection point came at 19:00 UTC on Wednesday, when trading volume advanced to 5.63 million tokens—an 85% jump relative to the 24-hour average. The flow aligned with a failed advance above $4.98, cementing the area as a near-term ceiling resistance. Although ICP briefly climbed to $4.99 in a mid-session uptick, the momentum quickly faded and the price moved lower.
The latest hourly movement showed ICP slipping to $4.93, extending the earlier breakdown and tight pressure to the $4.90 psychological region. The price briefly stabilized near $4.917, but the technical structure continues to show a downward bias unless the ICP can recover levels above $4.98.
Support at $4.63 remains the key threshold below, which served as a pivot in earlier pullbacks. Without renewed volume expansion towards the upper end of the range, the ICP appears to remain within a consolidation band defined by $4.63-$4.98, with directional confirmation depending on which boundaries break first.
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.
