Internet Computer (ICP) drifted lower after failing to sustain intraday gains, with elevated volume indicating ongoing distribution near resistance levels.

ICP traded down to around $3.13 over the past 24 hours, after an earlier rebound stalled in the $3.25–$3.30 zone. The pullback erased much of the session’s upside and kept the token near the lower end of its recent trading range, according to CoinDesk Research’s technical analysis model.

The token turned lower after failing to maintain momentum above intraday highs near $3.28. Volume picked up during the reversal, pushing ICP through short-term support levels. Peak activity during the decline suggests active repositioning by traders rather than thin, illiquid movement.

Following the drop, ICP stabilized near $3.05–$3.10 before attempting a modest bounce, though follow-through remained limited. The inability to reclaim previous support underscores that overhead supply remains concentrated above current levels, particularly near $3.20.

From a technical perspective, ICP continues to trade below its recent consolidation midpoint, with lower highs defining the short-term structure. Volume indicates participation on both sides of the move, but price has yet to signal a decisive shift in momentum. Until ICP can reclaim and hold above the $3.25–$3.30 range, trading remains consistent with consolidation under resistance rather than a confirmed trend reversal.