ICP$3.5975 rose 1.1% in the past 24 hours with volatility dominating price action.
The token traded within a 5.5% intraday range, moving between repeated support tests and brief rallies that failed to overcome near-term resistance. according to CoinDesk Research’s technical analysis data model.
A volume expansion defined early trading. ICP saw 1.96 million tokens change hands during the morning — 124% above the 24-hour average — pushing the price briefly toward $3.87 before momentum stalled at $3.83. As the session progressed, price action shifted into steady retracement, with a 2.6% pullback testing the psychological $3.70 level.
The decline reflects a clear descending channel that has contained price since the morning high. A 244,000-token spike during the 13:39 UTC move lower underscored persistent supply at higher levels. Despite the pressure, ICP held above the $3.69–$3.70 support zone, preserving its short-term structure.
Traders attributed the attention on ICP to cross-chain development narratives across the ecosystem, though immediate market behavior remained technically driven. Positive sentiment around related assets did little to offset the day’s consolidation pattern.
The token now sits in a tight range: Buyers continue to defend $3.69–$3.70, while $3.83 remains the level to watch for any attempt at upside continuation. With volume cooling after the morning spike, a breakout from the current channel will likely require fresh participation.
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.
Source: https://www.coindesk.com/markets/2025/12/04/icp-rises-as-cross-chain-narratives-gain-attention
