extended its powerful rally on Thursday, surging 33.99% to $7.02, a move that firmly established a bullish breakout above the key $7.00 threshold.
According to CoinDesk Research’s technical analysis data model, the strong rally occurred amid heavy trading volume and widespread volatility in the broader crypto market, as ICP continued to separate itself from prevailing sector weakness.
The token rose from $5.26 to a high of $7.20, posting one of its strongest daily performances in months. The decisive break above $7.00 marked a psychological and technical milestone for the asset, transforming previous resistance into a new support zone.
Trading activity intensified throughout the day, with 19.57 million tokens traded, approximately three times the 30-day average. The most pronounced acceleration occurred between 14:00 and 17:30 GMT, when prices rose from $6.40 to $7.18, an intraday rise of 12%, supported by expanding volume and momentum indicators confirming the trend.
The strong pace of participation validated the breakout as a structurally significant move rather than a speculative spike.
Although a near-term consolidation above $6.95 to $7.00 may follow, the broader technical outlook remains constructive. The strong uptrend, coupled with confirmation of a breakout on high volume, suggests the possibility of a continuation towards the $7.25-$7.40 range over the next few sessions, provided the newly formed support zone holds.
Disclaimer: Portions of this article were generated with the help of AI tools and reviewed by our editorial team to ensure accuracy and compliance. our standards. For more information, see CoinDesk Comprehensive AI Policy.
