ICP coin price shows a falling wedge breakout with a 20% jump; however, the rally struggles to surpass the 50-day EMA close to $20.

Key technical points:
<ul>
 	<li style="font-weight: 400">ICP coin price approaches the 100-day EMA.</li>
 	<li style="font-weight: 400">In addition, the RSI slope kisses the overbought boundary.</li>
 	<li style="font-weight: 400">Finally, the 24-hour trading volume of Internet Computer is $514 Million, marking a 325% rise. </li>
</ul>
<h2>Past Performance of ICP</h2>
ICP coin price shows a falling wedge pattern breakout resulting in a price jump of 40% last week. However, the rally toils to continue to journey due to high selling activity near the 100-day EMA at the $23 mark. It is evident by the daily candle showing higher price rejection despite a 2% growth. 

<img src="https://s3.tradingview.com/snapshots/x/xw5xU2zo.png" alt="TradingView Chart" />

Source-<a href="https://www.tradingview.com/x/xw5xU2zo/">Tradingview</a>
<h2>ICP Technical Analysis </h2>
ICP coin price experiences a boom in buying pressure evident by the 300% jump in trading volume. Hence, the chances of the $25 breakout increase spontaneously. 

With the remarkable recovery last week, the Internet Computer token struggles to outperform the 100-day EMA. However, a potential rally to the 200-day EMA awaits the 100-day EMA breakout. 

RSI Indicator: The RSI slope reverses from the nearly oversold zone with a boom in underlying bullishness. Furthermore, the 14-day average line crosses above the halfway mark with a parabolic recovery. Hence, the indicator represents the possibility of surpassing $25.

MACD Indicator: The MACD and signal lines show a remarkable, bullish recovery crossing the zero value after the positive crossover. Hence, the bullish MACD histograms continue to intensify. 

In brief terms, the ICP technical analysis shows a potential bullish breakout of the 100-day EMA.
<h2>Upcoming Trend </h2>
ICP coin price shows a potential uptrend of 20% to reach the $28 mark with the 100-day breakout if buyers maintain the pressure. However, the failure to surpass the 100-day EMA will result in a retracement to $20.

Support Levels: $20 and $18

Resistance Levels: $25 and $25

ICP Technical Analysis: Should You Bet On The 100-day EMA Breakout?

ICP coin price shows a falling wedge breakout with a 20% jump; however, the rally struggles to surpass the 50-day EMA close to $20.

Vikram is a technical analyst with several years of experience in the crypto market &amp; Indian Equity and F&amp;O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

ICP Technical Analysis: Should You Bet On The 100-day EMA Breakout?

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