continued its strong momentum on Thursday, climbing 7.88% to $7.77 and marking another day of pronounced outperformance relative to the broader crypto market.
The token extended its rally that began earlier in the week, moving firmly above previous resistance levels while confirming a sustained uptrend.
Trading activity remained robust, with 20.11 million ICP tokens traded, 261% above the monthly average, according to CoinDesk Research’s technical analysis data model.
The increase in volume reflects growing market engagement as traders and institutions react to the technical breakout and relative strength of the token. The price action was characterized by a strong push to a session high of $8.76, followed by measured consolidation as participants locked in short-term gains.
ICP’s broader structure continues to exhibit bullish characteristics, with higher lows forming steadily over the past few sessions. This setup reinforces the token’s momentum-driven advance and suggests further upside potential if support holds.
Analysts see $8.00 as the next resistance level, with the $7.40 to $7.50 area providing a key near-term bottom. A sustained close above these levels would confirm continued bullish momentum and potentially open targets towards $8.50 – $8.90.
Disclaimer: Portions of this article were generated with the help of AI tools and reviewed by our editorial team for accuracy and compliance. our standards. For more information, see CoinDesk Comprehensive AI Policy.
