prolonged its highly effective rally on Thursday, leaping 33.99% to $7.02 in a transfer that firmly established a bullish breakout above the important thing $7.00 threshold.
The sharp rally got here amid heavy buying and selling quantity and widespread volatility throughout the broader crypto market, as ICP continued to separate itself from the sector’s prevailing weak spot, in accordance with CoinDesk Analysis’s technical evaluation information mannequin.
The token surged from $5.26 to achieve a excessive of $7.20, posting one in all its strongest day by day performances in months. The decisive break above $7.00 marked a psychological and technical milestone for the asset, remodeling prior resistance into a brand new assist zone.
Buying and selling exercise intensified all through the day, with 19.57 million tokens exchanged, roughly thrice the 30-day common. Probably the most pronounced acceleration occurred throughout the 14:00–17:30 GMT window, when costs vaulted from $6.40 to $7.18 —a 12% intraday surge supported by increasing quantity and trend-confirming momentum indicators.
The sustained tempo of participation validated the breakout as a structurally important transfer somewhat than a speculative spike.
Whereas short-term consolidation above $6.95–$7.00 might observe, the broader technical outlook stays constructive. The sturdy upward development, coupled with breakout affirmation on excessive quantity, suggests the potential for continuation towards the $7.25–$7.40 vary in coming periods, offered the newly fashioned assist zone holds.
Disclaimer: Elements of this text had been generated with the help from AI instruments and reviewed by our editorial group to make sure accuracy and adherence to our requirements. For extra info, see CoinDesk’s full AI Coverage.
