Internet Computer Slides Below $5 as Market Eyes $4.70 Support
Internet Computer (ICP) extended its pullback from November highs, dropping 5.57% over the past 24 hours to $4.8119, after multiple rejections at key resistance levels. The token’s decline below the $5.00 mark, a recurring pivot point in recent months, signals a continued bearish shift, according to CoinDesk Research’s technical analysis.
Prices briefly touched $4.69 during the session, highlighting a broad intraday trading range. Trading activity surged, with volume spiking 98% above the daily average—the highest of the month—coinciding with failed attempts to reclaim $5.00 and establishing it as a clear resistance zone.
Short-term stabilization attempts occurred near $4.70, where minor recoveries created a series of higher lows alongside volume bursts of 207K and 167K tokens, hinting at early support.
The token now appears to be in a short-term consolidation phase. Immediate resistance sits at $4.75, while the $5.00 level remains a critical barrier. Support between $4.69 and $4.70 will determine whether ICP can stabilize or face further downside in the coming sessions.
