The momentum continued on Thursday, rising 7.88% to $7.77, another notable outperformance against the broader crypto market.
The token further extended the bull market that started earlier in the week, confirming a sustained uptrend while firmly breaking above the previous resistance level.
Trading activity remained strong, with 20.11 million ICP tokens exchanged, according to CoinDesk Research’s technical analysis data model. This is 261% higher than the monthly average.
The surge in volume reflects growing market engagement as traders and institutions react to the token’s technical breakout and relative strength. Price action was characterized by a sharp rise to a session high of $8.76, followed by firmness as participants secured short-term profits.
The broader structure of ICP continues to exhibit bullish characteristics, with higher lows forming consistently in recent sessions. This pattern strengthens the token’s momentum-based advance and signals the potential for further upside if support holds.
Analysts are eyeing $8.00 as the next resistance level, with the $7.40-$7.50 zone being a key short-term downside. A sustained close above these levels would confirm that the upward momentum continues and potentially opens up a target towards $8.50-$8.90.
Disclaimer: Portions of this article were generated with the help of AI tools and reviewed by our editorial team to ensure accuracy and compliance. our standards. For more information, see CoinDesk’s complete AI policy.
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