ICP has disappeared in the previous 24 hours, Sliding to $4.90 as recent upside momentum fades to key $5.17 place of resistance.
The move follows Monday’s sharp rally, which pushed the token to the upper bound of its short-term range before encountering fatigue, according to Coindesk Research’s technical analysis model.
Trading activity intensified as ICP attempted to extend the rally. A morning spike to 3.03 million tokens, about 32% above the 24-hour average, coincided with the failed breakout at $5.17. The hourly chart then moved into a clear pattern of lower highs and lower lows in a range of $0.39, signaling a move into a corrective structure rather than a continuation.
Later in the session, ICP found a temporary move around $4.92, which bounced to $4.97 on elevated intraday volume before stalling again. The decline was formed by a fresh local resistance level, keeping the token locked within a tight consolidation band between $4.92 and $4.97.
While the pullback erases a portion of the earlier advance, it has yet to break the broader trend that began in early November. Instead, the current setup reflects a pause within a larger move, with the $4.92 zone acting as a pivotal reference for short-term sentiment. A clean break above $4.97 would be needed to refocus attention on the $5.17 ceiling; Failure to hold support increases the risk of a longer withdrawal.
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.
