continued to struggle with the overall pressure during its last 24-hour trading window, trading near $4.80 after falling below the $4.95 support level.
The token moved within an intraday range of $0.48, reflecting 9.6% volatility as repeated attempts to reclaim higher levels stalled, according to CoinDesk Research’s technical analysis data model.
A major turning point came at 19:00 UTC on Wednesday, when trading volume increased to 5.63 million tokens, an increase of 85% relative to the 24-hour average. The rise aligned with a failed advance above $4.98, reinforcing the area as a short-term ceiling of resistance. Although ICP briefly rose to $4.99 during a mid-session rally, the momentum quickly faded and the price turned lower.
The most recent hourly movements showed that the ICP fell to $4.93, extending the previous breakout and increasing pressure on the psychological region of $4.90. The price briefly stabilized near $4.917, but the technical structure continues to show a bearish bias unless the ICP can regain levels above $4.98.
Support at $4.63 remains the key threshold below as it served as a pivot during previous pullbacks. Without further volume expansion towards the upper end of the range, ICP appears likely to remain within a consolidation band defined between $4.63 and $4.98, with directional confirmation depending on which boundary is broken first.
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.
