ICP Drops as Breakdown Below $5.00 Extends Multi-Session Weakness

ICP declined to $4.8119 over the last 24 hours, down 5.57%, as the token extended its retracement from last week’s highs.

The move pushed ICP firmly below the $5.00 threshold—a level that has repeatedly acted as a pivot throughout recent months, according to CoinDesk Research’s technical analysis data model.

The decline unfolded across a wide trading range, with prices touching $4.69 at the day’s lows.

Trading activity rose sharply, with volume jumping 98% above the daily average, marking one of the most active sessions of November. The increase coincided with repeated failures to regain the $5.00 area, establishing a clearer resistance zone following the steep pullback from earlier monthly highs near $9.50.

Intraday data shows several attempts to stabilize around $4.70, where brief recovery moves produced a series of higher lows alongside volume bursts of 207K and 167K tokens. These signals point to early signs of stabilization even as ICP remains below key resistance.

The broader structure now reflects a shift into short-term consolidation. Immediate resistance sits near $4.75, followed by the more consequential $5.00 threshold. Support between $4.69–$4.70 remains the key zone determining whether ICP can avoid a deeper retracement in the sessions ahead.

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.