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. Key technical points: ICP coin price approaches the 100-day EMA. In addition, the RSI slope kisses the overbought boundary. Finally, the 24-hour trading volume of Internet Computer is $514 Million, marking a 325% rise. Past Performance of ICP 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. Source-Tradingview ICP Technical Analysis 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 posit...