continued to struggle against overhead 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 failed, according to CoinDesk Research’s technical analysis data model.
A major inflection point arrived at 19:00 UTC on Wednesday, when trading volume surged to 5.63 million tokens, an 85% jump from the 24-hour average. The rise aligned with a failed move above $4.98, strengthening the area as a near-term ceiling of resistance. Although ICP briefly climbed to $4.99 during a mid-session rally, the momentum quickly faded and the price fell.
The most recent hourly moves showed ICP sliding above $4.93, extending the previous breakdown and tightening pressure on the $4.90 psychological region. The price briefly stabilized near $4.917, but the technical structure continues to show a downward bias unless ICP manages to reclaim levels above $4.98.
Support at $4.63 remains the key threshold below, having 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 defined consolidation band between $4.63 and $4.98, with directional confirmation dependent on which boundary crosses first.
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.
