rose 1.1% in the past 24 hours with volatility dominating price movements.
The token traded within a 5.5% intraday range, moving between repeated support tests and brief rallies that failed to overcome near-term resistance. according to CoinDesk Research’s technical analysis data model.
A volume expansion 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 momentum stalled at $3.83. As the session progressed, price action switched to a steady retracement, with a 2.6% pullback testing the psychological $3.70 level.
The drop reflects a clear descending channel that has held the price since the morning high. A 244,000 token gain during the 13:39 UTC move lower underlined continued supply at higher levels. Despite the pressure, ICP stayed above the $3.69-$3.70 support zone and maintained its short-term structure.
Traders attributed attention to ICP to cross-chain development narratives across the ecosystem, although immediate market behavior remained technically driven. The positive sentiment around related assets did not offset today’s consolidation pattern.
The token is now in a narrow range: buyers continue to defend $3.69-$3.70, while $3.83 remains the level to watch for any attempt at an upward continuation. With volume cooling after the morning peak, a breakout from the current channel is likely to require new participation.
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.
