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ICP has been making interesting moves lately. It approached $3 a month ago, and is now trading around $2.43. According to reports, the opening of spot trading support on a major South Korean exchange triggered this rise, but the stock has now pulled back slightly.
From a technical perspective, ICP had exited a consolidation phase between $2.30 and $2.60. The previous rally showed strong signals on RSI and MACD indicators. Breaking above the 50-day moving average was also significant. Currently, the price is slightly below these levels, stabilizing at $2.43.
Bitcoin approaching $71,000 also supported altcoins. The gains seen in AI-based projects like Render indicated a wave of interest in the sector. ICP benefited from this wave.
If the price drops below $2.50, it could find support at $2.35 and $2.20. If there is an upward breakout, the 200-day moving average around $3.73 could be targeted. However, market sentiment remains cautious, so this does not guarantee continued upward movement.