ICP Slips as Volume Spike Confirms Breakdown Below Key Support

ICP$5.0298 continued to struggle with overhead pressure during its latest 24-hour trading window, trading near $4.80 after slipping below the $4.95 support level.

The token moved within a $0.48 intraday range, reflecting 9.6% volatility as repeated attempts to reclaim higher levels stalled, according to CoinDesk Research’s technical analysis data model.

A major inflection point arrived at 19:00 UTC on Wednesday, when trading volume surged to 5.63 million tokens — an 85% jump relative to the 24-hour average. The surge aligned with a failed advance above $4.98, reinforcing the area as a near-term resistance ceiling. Although ICP briefly climbed to $4.99 during a mid-session uptick, momentum faded quickly and price rotated lower.

The most recent hourly moves showed ICP slipping through $4.93, extending the earlier breakdown and tightening pressure on the $4.90 psychological region. Price briefly stabilized near $4.917, but technical structure continues to show a downward bias unless ICP can reclaim levels above $4.98.

Support at $4.63 remains the key threshold below, having served as a pivot during prior pullbacks. Without renewed volume expansion toward the upper end of the range, ICP appears likely to remain inside a consolidation band defined by $4.63–$4.98, with directional confirmation dependent on which boundary breaks first.

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.