ICP Holds $4.69 Support While Falling Wedge Caps Price Below $5.40

ICP traded at $4.91 after a 9.4% daily decline, remaining inside a clearly defined falling wedge on the 1-hour chart.

The price held above $4.69 support while staying capped below $5.40 resistance, keeping movement within a narrow range.

The chart displayed a projected $6–$7 relief zone, marked above the upper trendline as part of the broader structure.

Internet Computer traded lower over the past 24 hours as its price moved within a defined falling wedge on the one-hour chart. The asset changed hands at $4.91, reflecting a 9.4% decline during the period. This movement extended its downward structure, yet the pattern kept price action well contained inside two converging trendlines. The formation provided a clear view of recent trading behavior and highlighted how the market tracked short-term levels. Moreover, the setup created a structured environment for evaluating shifts in momentum as the token traded near its support area.

Market Structure Tightens Around the Falling Wedge

The wedge pattern narrowed over recent sessions, and it directed attention to the lower boundary near $4.69, which acted as support. Price moved toward this area during the decline, and it held close to the line throughout the session

This kept the structure intact, and it allowed the broader pattern to remain consistent. However, the upper boundary continued to restrict upward attempts, and it shaped intraday direction. The two trendlines maintained pressure on both sides, which created a balanced setup for monitoring hourly changes.

Trading Levels Define Near-Term Framework

The 24-hour range stayed within the falling wedge, and it showed how the price reacted to nearby resistance at $5.40. The market treated this level as the upper limit during recent moves, and price stayed below it throughout the period. This created a clear separation between resistance and the lower boundary

Notably, the tight structure provided a reference for short-term developments, and it positioned the current price near the midpoint of recent activity. The setup connected directly with the declining trendlines, and it kept focus on how upcoming sessions may interact with the boundaries.

Hourly Action Tracks Pattern While Traders Watch Key Zones

The one-hour chart placed the price firmly inside the wedge as the asset continued to follow the controlled slope. The structure extended across several sessions, and it maintained its shape as the decline progressed. Additionally, the current position between $4.69 support and $5.40 resistance created a specific trading corridor for near-term tracking

The chart also marked a projected relief zone between $6 and $7, which aligned with the marked green target box. This area stood above the upper trendline and remained visible as part of the broader setup. With the pattern intact, the market continued to track the defined range while observing price behavior across the one-hour timeframe.