ICP fell to $4.8119 over the past 24 hours, down 5.57%, as the token extended its retracement from last week’s highs.
The move pushed ICP firmly below the $5.00 threshold, a level that has repeatedly served as a pivot over the past few months, according to CoinDesk Research’s technical analysis data model.
The decline extended across a wide trading range, with prices hitting $4.69 at the day’s low.
Trading activity increased sharply, with volume exceeding the daily average by 98%, marking one of the most active sessions of November. The increase coincided with repeated failures to regain the $5.00 area, establishing a clearer resistance zone following the sharp pullback from previous monthly highs near $9.50.
Intraday data shows several attempts to stabilize around $4.70, where brief recovery moves produced a series of higher lows as well as volume increases of 207,000 and 167,000 tokens. These signals indicate the first signs of stabilization, although ICP remains below key resistance.
The broader structure now reflects a move toward near-term consolidation. Immediate resistance lies around $4.75, followed by the larger $5.00 level. Support between $4.69 and $4.70 remains the key area determining whether ICP can avoid a deeper retracement in the coming sessions.
Disclaimer: Portions of this article were generated with the help of AI tools and reviewed by our editorial team to ensure accuracy and compliance. our standards. For more information, see CoinDesk Comprehensive AI Policy.
