ICP fell to $4.8119 over the last 24 hours, down 5.57%, as the token extended its retracement from last week’s highs.
The move pushed ICP sharply below the $5.00 threshold — a level that has repeatedly served as a pivot over recent months, according to CoinDesk Research’s technical analysis data model.
The decline unfolded over a wide trading range, with prices reaching $4.69 at the day’s lows.
Trading activity picked up sharply, with volume jumping 98% above the daily average, marking one of the most active sessions in November. The rise coincided with repeated failures to reclaim the $5.00 area, establishing a clearer resistance zone after the steep pullback from previous monthly highs near $9.50.
Intraday data shows several attempts to stabilize around $4.70, with brief recovery moves producing a series of higher lows along with volume breakouts at 207K and 167K tokens. These signals point to early signs of stabilization, although ICP remains below key resistance.
The broader structure now reflects a shift to short-term consolidation. The immediate resistance is near $4.75, followed by the more consequential $5.00 threshold. Support between $4.69-$4.70 remains the key zone that will determine 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 staff to ensure accuracy and compliance with our standards. For more information, see CoinDesk’s full AI policy.
