rose 1.1% in the last 24 hours and volatility dominated the price action.
The token traded within a 5.5% intraday range, moving between repeated tests of support and brief rallies that failed to overcome short-term resistance. based on CoinDesk Research technical analysis data model.
An expansion of volume defined the first operations. ICP saw 1.96 million tokens change hands during the morning, 124% above the 24-hour average, pushing the price briefly towards $3.87 before momentum plateaued at $3.83. As the session progressed, the price action turned towards a steady pullback, with a 2.6% retracement testing the psychological level of $3.70.
The drop reflects a clear descending channel that has contained the price from the morning high. An increase of 244,000 tokens during the move lower at 13:39 UTC underlined the persistent supply at higher levels. Despite the pressure, the ICP remained above the support zone between $3.69 and $3.70, preserving its short-term structure.
Traders attributed the attention to ICP to cross-chain development narratives across the ecosystem, although immediate market behavior remained technically driven. The positive sentiment around related assets did little to offset the day’s consolidation pattern.
The token is now in a tight range: buyers continue to defend between $3.69 and $3.70, while $3.83 remains the level to watch for any bullish continuation attempts. With volume cooling after the morning peak, a breakout of the current channel will likely require fresh participation.
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.
