rose 1.1% in the last 24 hours as volatility dominated price action.
The token has been trading within a 5.5% intraday range, oscillating between repeated tests of support and brief rallies that have failed to overcome near-term resistance. according to CoinDesk Research’s technical analysis data model.
An expansion in volume defined early trading. ICP saw 1.96 million tokens change hands during the morning – 124% above the 24-hour average – briefly pushing the price towards $3.87 before the momentum stalled at $3.83. As the session progressed, the price action turned into a steady retracement, with a 2.6% pullback testing the psychological $3.70 level.
The decline reflects a clear descending channel that has contained prices since the morning high. A spike of 244,000 tokens during the 1:39 p.m. UTC decline highlighted persistent supply at higher levels. Despite the pressure, ICP held above the $3.69-$3.70 support zone, preserving its near-term structure.
Traders attributed the focus on ICP to stories of cross-chain development across the ecosystem, although immediate market behavior remains technically driven. Positive sentiment around related assets failed to offset the day’s consolidation pattern.
The token is now in a tight range: buyers continue to defend $3.69 to $3.70, while $3.83 remains the level to watch for any attempts to continue higher. With volumes cooling after the morning peak, a breakout of the current channel will likely require further participation.
Disclaimer: Portions of this article were generated with the help of AI tools and reviewed by our editorial team for accuracy and compliance. our standards. For more information, see CoinDesk Comprehensive AI Policy.
