ICP Technical Analysis: Buyers Ready To Reclaim The $10 Threshold

ICP price chart shows a bullish surge ready to surpass the 200-period EMA in the 4-hour chart. Will this reversal surpass the $10 barrier? Key technical points: The ICP market value increased by 19.89% today at press time. The bullish surge surpasses the 50 and 100-period EMA in the 4-hour chart. In addition, the 24-hour trading volume of the Internet Protocol is $213 Million, indicating a hike of 93%. Past Performance of ICP The May 2022 sell-off plummeted the ICP price to a low of $6.07. Later, the buyers attempted to recover the lost value but failed to surpass the $9.65 resistance. As a result, the altcoin witnessed a range bound rally stretched from $9.65 to $6.5. This potential breakout should release the trapped bullish momentum and trigger a direction move. Source- Tradingview ICP Technical Analysis Over the past three weeks, the ICP price has been wavering between the extreme levels of the range. However, a steady rally with increasing volume activity for every successive daily candle shows solid bullish momentum. Furthermore, today the market price is up 20% and teases a bullish breakout from the $9.65 resistance. The RSI slope shows a sharp climb towards the overbought region, indicating a high momentum rally in ICP price. The MACD indicator offers a bullish crossover above the neutral line, giving additional confirmation for the $9.65 breakout. A lateral walk among the 50 and 100-period EMA accentuates a range-boun...