has hovered near $6.03, adding 2.25% over the past 24 hours while remaining locked in a tight consolidation structure that has defined its price behavior since last week’s strong retracement from early November highs above $9.80.
Despite this advance, ICP continues to trade in a well-established corridor between support at $6.05 and resistance at $6.66, levels that have repeatedly limited momentum throughout the past year, according to CoinDesk Research’s technical analysis data model.
A burst of trading activity early in the session – 4.27 million tokens, or about 68% above the 24-hour average – accompanied another attempt to break above $6.66. This move failed to clear the cap, reinforcing this band as a key near-term hurdle. Once momentum faded, ICP moved back toward the midpoint of its range as no new catalysts emerged to support directional follow-through.
Volume then declined sharply, dropping to just 171,000 tokens, with several minutes recording no transactions. The dramatic slowdown highlights a temporary equilibrium rather than a decisive change in sentiment, reflecting the broader structure of ranges that now governs price action.
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.
