ICP Jumps 34% to $7.02 in Explosive Breakout Above Key Resistance

ICP$6.9280 extended its powerful rally on Thursday, jumping 33.99% to $7.02 in a move that firmly established a bullish breakout above the key $7.00 threshold.

The sharp rally came amid heavy 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 surged from $5.26 to reach 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 prior 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 14:00–17:30 GMT window, when prices vaulted from $6.40 to $7.18 —a 12% intraday surge supported by expanding volume and trend-confirming momentum indicators.

The sustained pace of participation validated the breakout as a structurally significant move rather than a speculative spike.

While short-term consolidation above $6.95–$7.00 may follow, the broader technical outlook remains constructive. The strong upward trend, coupled with breakout confirmation on high volume, suggests the potential for continuation toward the $7.25–$7.40 range in coming sessions, provided the newly formed support zone holds.

Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.