increased by 1.1% over the last 24 hours, amidst a backdrop of significant volatility.
The token fluctuated within a 5.5% intraday range, experiencing repeated tests of support levels and brief upward movements that fell short of breaking through immediate resistance, according to the technical analysis data model from CoinDesk Research.
Early trading was marked by a surge in volume, with 1.96 million tokens changing hands in the morning — a 124% increase over the 24-hour average — which briefly nudged the price towards $3.87 before momentum waned at $3.83. As the trading session unfolded, the price began to retreat, with a 2.6% decline testing the psychological $3.70 mark.
This decline follows a well-defined descending channel that has constrained the price since reaching the morning high. A 244,000-token spike during the downward move at 13:39 UTC highlighted ongoing supply at elevated price levels. Nevertheless, ICP maintained its position above the $3.69–$3.70 support zone, thereby preserving its short-term structural integrity.
Market observers noted that interest in ICP is driven by cross-chain development narratives within the ecosystem, even though short-term market behavior remained largely technical in nature. Positive sentiment surrounding related assets had minimal impact on the day’s consolidation trend.
The token currently trades within a narrow range: Buyers continue to defend the $3.69–$3.70 support, while $3.83 is a crucial level for any potential upside breakthrough. With volume receding following the morning spike, a breakout from the ongoing channel is likely to require new market participation.
Disclaimer: Parts of this article were generated with the assistance of AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.
