ICP Pulls Back After Failing to Clear $5.17, Consolidation Underway
ICP slipped to $4.90 over the past 24 hours after its rally stalled at the $5.17 resistance level. Monday’s surge had lifted the token to the top of its short-term range, but heightened trading at that level signaled exhaustion, according to CoinDesk Research’s technical model.
Trading volume spiked to 3.03 million tokens—about 32% above the 24-hour average—during 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.
ICP found short-term support near $4.92, briefly rebounding to $4.97 before stalling, creating a tightening range between $4.92 and $4.97. While this pullback retraces part of Monday’s gains, the broader uptrend from early November remains intact. A move above $4.97 would target $5.17, while a drop below $4.92 could trigger a deeper retracement
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