The strong momentum continued on Thursday, Climbing 7.88% to $7.77 and marking another day of pronounced outperformance against the broader crypto market.
The token extended the breakout rally that started earlier in the week, moving firmly above the previous resistance levels while confirming a prolonged climb.
Trading activity remained steady, with 20.11 million ICP tokens traded – 261% above the monthly average, according to Coindesk Research’s technical analysis model.
The influx in volume reflects expanding market engagement as traders and institutions respond to the technical breakout and relative strength of the token. Price action was characterized by a sharp push to a session high of $8.76, followed by measured consolidation as participants locked in short-term gains.
The broader ICP structure continues to show bullish characteristics, with higher lows continuing to form in recent sessions. This pattern reinforces momentum-driven momentum and suggests the potential for further upside if support holds.
Analysts are watching $8.00 as the next level of resistance, with the $7.40-$7.50 zone providing a key near term floor. A sustained close above these levels would confirm continued upward momentum and potential open targets towards $8.50-$8.90.
Disclaimer: Parts of this article were generated with help from AI tools and reviewed by our editorial team to ensure accuracy and compliance with our standards. For more information, see Coindesk’s full AI policy.
