continued its strong momentum on Thursday, rising 7.88% to $7.77 and marking another day of pronounced outperformance against the broader crypto market.
The token extended its rally that began earlier in the week, moving firmly above previous resistance levels and confirming a sustained uptrend.
Trading activity remained strong, with 20.11 million ICP tokens exchanged, 261% above the monthly average, according to CoinDesk Research’s technical analysis data model.
The increase in volume reflects growing market participation as traders and institutions respond to the technical breakout and the relative strength of the token. The price action was characterized by strong momentum to a session high of $8.76, followed by measured consolidation as participants locked in short-term gains.
The broader structure of the ICP continues to exhibit bullish characteristics, with higher lows forming consistently over the past few sessions. This pattern reinforces the token’s momentum-driven advance and suggests the potential for further gains if support holds.
Analysts consider $8.00 to be the next resistance level, with the area between $7.40 and $7.50 providing a key short-term floor. Sustained closes above these levels would confirm continued bullish momentum and potentially open targets between $8.50 and $8.90.
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.
