ICP lost ground over the past 24 hours, sliding to $4.90 as its recent upside momentum faded at the key $5.17 resistance area.

The move follows Monday’s sharp rally, which pushed the token into the upper boundary of its short-term range before encountering exhaustion, according to CoinDesk Research's technical analysis data model.

Trading activity intensified as ICP attempted to extend the rally. A morning spike to 3.03 million tokens, about 32% above the 24-hour average, coincided with the failed breakout at $5.17. Hourly charts then transitioned into a clear pattern of lower highs and lower lows across a $0.39 range, signaling a shift into corrective structure rather than continuation.

Later in the session, ICP found temporary footing around $4.92, rebounding to $4.97 on elevated intraday volume before stalling again. The rejection formed a fresh local resistance level, keeping the token locked inside a tightening consolidation band between $4.92 and $4.97.

While the pullback erases a portion of earlier advances, it does not yet break the broader trend that began in early November. Instead, the current setup reflects a pause within a larger move, with the $4.92 zone acting as a pivotal reference for short-term sentiment. A clean break above $4.97 would be needed to refocus attention on the $5.17 ceiling; failure to hold support raises the risk of a more prolonged retracement.

Disclaimer: Parts of this article were generated with the assistance from 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.