ICP Pulls Back as Rally Hits Resistance, Consolidation Resumes

ICP retreated over the past 24 hours, sliding to $4.90 after its recent momentum stalled at the key $5.17 resistance level. Monday’s sharp rally had pushed the token to the upper boundary of its short-term range, but intensified trading at that level signaled exhaustion, according to CoinDesk Research’s technical analysis model.

Volume spiked during the failed breakout, with morning trading reaching 3.03 million tokens—roughly 32% above the 24-hour average. Following the rejection, hourly charts displayed lower highs and lower lows across a $0.39 range, marking a shift from upward momentum to a corrective structure.

Later, ICP found temporary support around $4.92, briefly rebounding to $4.97 on elevated intraday volume before stalling again. This created a new local resistance level, keeping the token in a tightening consolidation band between $4.92 and $4.97.

While the pullback retraces part of Monday’s gains, it does not yet undermine the broader trend that began in early November. A decisive move above $4.97 would refocus attention on the $5.17 ceiling, whereas a breakdown below $4.92 could signal a more extended retracement.