extended its powerful rally on Thursday, jumping 33.99% to $7.02 in a move that firmly established a bullish break above the key $7.00 threshold.
The strong rally came amid high trading volume and widespread volatility across the broader crypto market, as ICP continued to separate itself from the sector’s prevailing weakness, according to CoinDesk Research’s technical analysis data model.
The token rose from $5.26 to hit 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 exchanged, roughly three times the 30-day average. The most pronounced acceleration occurred during the 14:00 to 17:30 GMT window, when prices jumped from $6.40 to $7.18, a 12% intraday rise supported by expanding volume and momentum indicators confirming the trend.
The sustained pace of participation validated the breakout as a structurally significant move rather than a speculative spike.
While short-term consolidation may occur above $6.95-$7, the broader technical outlook remains constructive. The strong uptrend, coupled with confirmation of the breakout with high volume, suggests the possibility of a continuation towards the $7.25 to $7.40 range in the coming sessions, provided the newly formed support zone holds.
Disclaimer: Portions of this article were generated with the help of artificial intelligence tools and were reviewed by our editorial team to ensure accuracy and compliance. our standards. For more information, see CoinDesk’s full AI policy.
