Altcoins News: Internet Computer (ICP) Breaks Out Above $7.00 with 34% Surge as Volume Triples

Key TakeawaysInternet Computer (ICP) surged 34% to $7.02, marking its strongest daily rally in months.The breakout above $7.00 resistance confirmed a bullish technical reversal and established new support near $6.95–$7.00.Trading volume jumped to 19.57 million tokens, about 288% above the 30-day average, underscoring strong conviction.Analysts now eye $7.25–$7.40 as the next potential upside targets if the current trend holds.ICP Confirms Bullish Breakout as Volume Surges Nearly 3xInternet Computer (ICP) extended its sharp recovery on Thursday, soaring 33.99% to $7.02 in a decisive breakout move that reestablished bullish control of the market. The surge took ICP above the psychological $7.00 resistance level, which now serves as a critical short-term support zone.The move came amid heightened volatility across the broader crypto market, with ICP diverging from sector weakness to deliver one of its strongest daily performances since mid-2024. According to CoinDesk Research’s technical analysis model, the breakout reflects a renewed wave of momentum buying rather than a temporary speculative spike.Volume Spike Confirms Trend StrengthTrading activity surged dramatically, with 19.57 million ICP tokens exchanged — nearly three times the 30-day average. The most aggressive price action occurred between 14:00 and 17:30 GMT, when ICP vaulted from $6.40 to $7.18, a 12% intraday rally supported by expanding participation and accelerating momentum indicators.The volume-driven nature of the move suggests broad-based interest from both institutional and retail participants. Analysts note that when breakouts occur on elevated volume, they often signal sustained follow-through rather than exhaustion.Short-Term Outlook: Support at $6.95–$7.00, Next Target $7.40Technically, ICP’s ability to hold above $6.95–$7.00 will be key to confirming this move as a durable trend shift. A successful retest of the breakout zone could pave the way for a continued advance toward $7.25–$7.40, where the next resistance cluster resides.Momentum indicators, including the Relative Strength Index (RSI) and moving average convergence patterns, remain bullish but elevated, suggesting that a brief consolidation phase could occur before the next leg higher.If the broader crypto market stabilizes, ICP could emerge as one of the cycle’s early recovery leaders, given its strong structural base and positive divergence against peers.