ICP Pulls Back After Resistance Test, Enters Short-Term Consolidation
ICP eased to $4.90 over the past 24 hours after stalling at the $5.17 resistance level. Monday’s sharp rally had pushed the token to the top of its short-term range, but heavy trading at that zone marked a pause in momentum, according to CoinDesk Research’s technical analysis model.
Volume surged to 3.03 million tokens—around 32% above the 24-hour average—during the failed breakout attempt. Hourly charts now show lower highs and lower lows across a $0.39 range, signaling a shift into corrective consolidation.
The token found temporary support near $4.92, briefly rebounding to $4.97 before stalling, forming a tightening range between $4.92 and $4.97. While the pullback retraces part of Monday’s gains, the broader uptrend from early November remains intact. A move above $4.97 would refocus attention on $5.17, whereas a drop below $4.92 could lead to a deeper retracement.
