ICP Retreats as Attempt to Surpass $5.17 Falters, Market Settles Into Range

ICP Retreats After Hitting Resistance, Consolidation Takes Hold

ICP slipped to $4.90 over the past 24 hours as its recent rally stalled at the $5.17 resistance level. Monday’s surge had pushed the token to the upper edge of its short-term range, but heavy trading at that level signaled exhaustion, according to CoinDesk Research’s technical analysis model.

Trading volume spiked to 3.03 million tokens—about 32% above the 24-hour average—coinciding with the failed breakout. Hourly charts now show lower highs and lower lows across a $0.39 range, indicating a shift from momentum to corrective consolidation.

Later in the session, ICP found short-term support around $4.92, briefly rebounding to $4.97 before stalling, forming a tightening range between $4.92 and $4.97.

The pullback partially retraces Monday’s gains but does not negate the broader uptrend that started in early November. A break above $4.97 would refocus attention on $5.17, while a fall below $4.92 could trigger a deeper retracement.

About The Author

ctleditor

See author's posts