Internet Computer (ICP) rose 2.9% on February 28, 2026, as traders positioned for a potential breakout above the key $2.70 resistance level, according to CoinMarketCap data.
The move extends ICP’s weekly gains to 12.23%, signaling renewed short-term momentum across the altcoin market. The token is trading at $2.45 with 24-hour volume rising 17.32% to $126.35 million, while market capitalization climbed to $1.34 billion.
Market participants are closely watching whether bulls can push the price above descending wedge resistance to confirm a structural reversal.
Also Read: Internet Computer (ICP) Poised for $14 Breakout After Years of Accumulation
Breakout Target Projects 85% Upside
The ICP daily chart reflects a prolonged downtrend within a descending wedge pattern. Since the November peak near $9.00, the price has formed consistent lower highs and lower lows. The upper trendline acts as resistance near $2.60–$2.70, while support holds around $2.00–$2.10.
Recently, the price rebounded from the $2.10 support, attempting to break through the descending resistance. A strong daily close above $2.70 would confirm a breakout. This could shift the short-term bias bullish and attract fresh buying pressure.
According to the crypto analyst Globe Of Crypto, the projected breakout target stands near $4.70–$4.80, implying roughly 85% upside from current levels. Key resistance levels include $3.00, $3.50, and $4.20. Volume expansion will be essential to sustain upward continuation and confirm structural reversal.
If the price falls below $2.70, then another test of the $2.10 support level may be seen. A fall below $2.00 will break the bullish formation and move towards the $1.80-$1.60 levels. The market structure indicates that a volatility squeeze is due, and a strong price movement is soon to be seen.
RSI and MACD Maintain Bullish Momentum
From the indicators’ perspective, the RSI(14) is close to 60, remaining above the middle 50 level, indicating that the bullish trend is still in effect.
The indicator has not yet moved into the overbought region above 70, but the consistent increase indicates that the buyers are currently in control of the market, as shown in this TradingView chart.
The MACD remains in bullish territory, with the MACD line above the signal line and the histogram filled with positive bars. This crossover indicates that the upward momentum is confirmed, although the small size of the histogram indicates that the momentum is steady and not strong.
Why This Matters
A clear breakout above $2.70 may recast ICP’s medium-term charts, tempting market participants to buy the rallies to the $4.70 level.
Market participants are advised to closely watch the volume activity and the RSI and MACD signals, which will confirm if the bullish reversal is sustainable.
Also Read: ICP Breakout Above Resistance Could Target $14 Pivot High