Key Points:
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ICP surged 33.99% to $7.02, confirming a bullish breakout above the crucial $7.00 resistance level.
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Trading volume soared to 19.57 million tokens, nearly 288% above its 30-day average, signaling strong market participation.
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With momentum intact, technical indicators now target the $7.25–$7.40 range, provided support holds at $6.95–$7.00.
Internet Computer (ICP) delivered a standout performance on Thursday, rallying 33.99% to $7.02 in one of its strongest daily moves in months, as the token decisively broke above the key $7.00 resistance level. The surge confirmed a bullish technical breakout, igniting optimism among traders who view the move as a signal of renewed upside momentum.
According to data from CoinDesk Research, ICP’s surge was accompanied by a dramatic increase in trading activity, underscoring strong conviction behind the move.
Breakout Confirmed Above Psychological Barrier
The breakout came after several sessions of sustained accumulation, with ICP rising from a low of $5.26 earlier in the week to a high of $7.20 on Thursday. The advance marked a crucial shift in sentiment, as the $7.00 mark — previously a stubborn resistance zone — was transformed into a potential new support base.
“The move through $7.00 was a classic breakout confirmation, driven by both technical momentum and volume expansion,” said Arjun Mehta, senior market strategist at Quantum Crypto Analytics. “The structure of the rally suggests strong institutional and algorithmic buying, not just retail speculation.”
The technical breakout also triggered short covering, adding fuel to the rally as traders who had positioned against ICP’s recovery scrambled to exit.
Volume Surge Validates Momentum
Trading activity exploded across major exchanges, with 19.57 million ICP tokens changing hands — a 288% jump above the 30-day average. Most of the buying occurred between 14:00 and 17:30 GMT, when the price climbed from $6.40 to $7.18, representing a 12% intraday gain during peak momentum.
Volume spikes of this scale often serve as validation for technical breakouts, indicating broad market participation and trend confirmation.
“The market finally saw follow-through after weeks of range-bound action,” noted CoinDesk Research’s technical data model. “The breakout’s strength and accompanying volume make it structurally significant rather than a speculative anomaly.”
Momentum indicators, including the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD), both flipped bullish, with RSI entering the 65–70 zone — a range typically associated with early-stage trend continuation.
Technical Outlook: Eyes on $7.25–$7.40 Range
Analysts now view $6.95–$7.00 as the immediate support zone, with upside targets at $7.25–$7.40 if buying pressure persists. Sustained closes above $7.00 would reinforce the bullish thesis and open the path to higher extensions toward $7.60 and potentially $8.00, based on Fibonacci retracement projections.
“Provided ICP holds above $6.95, the next leg higher looks likely,” said Lena Zhou, technical strategist at Falcon Finance. “The recent breakout pattern resembles a textbook ascending base, suggesting that traders are positioning for continuation rather than reversal.”
Still, short-term traders are watching for a potential cool-off period after such a steep move, as consolidation typically follows parabolic rallies.
Market Context: ICP Outperforms Amid Sector Volatility
The rally comes amid a mixed backdrop for digital assets, with Bitcoin (BTC) hovering near $103,000 and Ethereum (ETH) consolidating around $3,450. While broader market sentiment remains cautious following weeks of volatility, ICP’s outperformance highlights pockets of renewed enthusiasm in select altcoins with strong on-chain development metrics.
Internet Computer’s ecosystem has recently seen growing traction among decentralized application (dApp) developers, particularly following its integration with Bitcoin’s native smart contracts and new governance updates from the DFINITY Foundation.
“Network activity and ecosystem engagement are improving, which could be giving traders more confidence in ICP’s long-term narrative,” said Alex Grant, digital asset analyst at Aurora Insights.
Outlook: Bullish Momentum, Watch for Follow-Through
With a confirmed breakout, rising institutional participation, and volume-backed strength, ICP’s near-term outlook remains positive — though traders will be watching closely for confirmation of support above the $7.00 zone.
If momentum persists, analysts say the asset could test $7.40 within the next few sessions, potentially setting the stage for a retest of its August highs near $8.10.
For now, ICP’s performance stands out as one of the few bright spots in an otherwise cautious crypto market — a reminder that selective breakouts can still deliver explosive upside in a consolidating environment.
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