extended its strong rally on Thursday, jumping 33.99% to $7.02 in a move that firmly established a bullish breakout above the key $7.00 barrier.
The sharp rally came amid heavy trading volume and widespread volatility across the broader crypto market as ICP continued to diverge from the sector’s prevailing weakness, according to CoinDesk Research’s technical analysis data model.
The token rallied from $5.26 to hit a high of $7.20, posting one of its strongest daily performances in months. The crucial break above $7.00 marked a psychological and technical milestone for the asset, transforming previous resistance into a new support zone.
Trading activity intensified during the day, with 19.57 million tokens exchanged, roughly three times the 30-day average. The most pronounced acceleration occurred during the 14:00-17:30 GMT window, when prices rose from $6.40 to $7.18 – a 12% gain on the day supported by growing volume and trend-affirming momentum indicators.
The sustained pace of participation validated the outbreak as a structurally significant feature rather than a speculative surge.
While near-term consolidation above $6.95-$7.00 may follow, the broader technical outlook remains constructive. The strong uptrend, combined with breakout confirmation on high volume, suggests the potential for continuation towards the $7.25-$7.40 range in coming 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 staff to ensure accuracy and compliance with our standards. For more information, see CoinDesk’s full AI policy.
