lost ground after a weekend rally, falling 5.48% to $3.77 as momentum faded following a failed attempt to overcome short-term resistance near $4.28.
The ICP rose to nearly $4.30 late Sunday, before continuing to decline for much of Monday. Trading volume reached 8.7 million tokens, about 70% above the daily average, confirming that the pullback was driven by strong participation rather than a drift of low liquidity, according to CoinDesk Research’s technical analysis data model.
The ICP fell to $3.70 in late European morning trading before rising back above $4 over the next two hours. However, this rally failed and the ICP returned to $3.70. The day’s wide $0.58 range accounted for nearly 15% intraday volatility, underscoring the persistent tug-of-war between bullish accumulation and profit-taking.
Despite the setback, the broader uptrend structure remains intact as long as the ICP remains above $3.70, which now represents an important pivot level for near-term direction. A recovery above $3.95 could restore bullish confidence and open a path towards $4.10-$4.15, while a break below $3.70 could trigger further downward pressure in the $3.60 range.
Disclaimer: Portions of this article were generated with the help of artificial intelligence tools and were reviewed by our editorial team to ensure accuracy and compliance. our standards. For more information, see CoinDesk’s full AI policy.
