hovered near $6.03, adding 2.25% in the last 24 hours while remaining locked in a tight consolidation structure that has defined its price behavior since last week’s sharp pullback from early November peaks above $9.80.
Despite the advance, ICP continues to trade within a well-established corridor between $6.05 support and $6.66 resistance, levels that have repeatedly limited momentum over 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, about 68% above the 24-hour average – accompanied a renewed attempt to break above $6.66. The move failed to push through the ceiling, reinforcing the bond as a key hurdle in the near term. As momentum waned, ICP slipped back toward the midpoint of its range as no new catalysts emerged to support directional follow-through.
Volume then thinned sharply, dropping to just 171,000 tokens, with several minutes recording no trades. The dramatic slowdown underscores a temporary equilibrium rather than a decisive shift in sentiment, reflecting the broader spread structure now driving price action.
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.
