Home / Analysis / Crypto / Technical Analysis / Internet Computer (ICP) Surges as Upbit Listing Opens the Floodgates: Here Are 3 Reasons $3 Could Come Faster
Internet Computer ($ICP) explodes following its high-profile Upbit listing | Credit: Hameem Sarwar
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Key Takeaways
ICP rallied after its listing on Upbit, triggering an 8% price jump alongside a 381% surge in volume.
ICP has rebounded from the $2.10 demand zone and is now testing the $2.80 resistance range.
Open interest has climbed roughly 44%, indicating a surge in leveraged trading that drives ICP higher.
Internet Computer (ICP) has just received one of the most powerful short-term price catalysts available to any altcoin in the current market — a listing on Upbit, South Korea’s largest cryptocurrency exchange.
The market’s immediate response has been telling, with ICP’s price registering a notable price surge
With March already underway, the question is no longer whether the Upbit listing matters.
The question is whether the momentum it has generated can carry the ICP crypto to $3 by the end of the month.
Earlier this year, the ICP crypto declined from above $3.30. Sellers controlled the market for weeks, pushing prices lower until they finally bottomed near $2.00 in late February.
However, momentum began to shift soon after.
Buyers stepped in and took control around the $2.10 demand zone. As a result, the price formed a short-term base and began to climb.
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Now, ICP’s price is once again testing the upper boundary of this range, signaling that bulls are attempting another breakout.
Momentum indicators also support the bullish scenario. The Relative Strength Index (RSI) currently sits near 63.72, which indicates strengthening buying pressure.
Importantly, the RSI has remained above the midline (50), suggesting that bulls maintain short-term control.
At the same time, Bull Bear Power (BBP) has turned positive after spending several sessions below zero. This change signals that bullish pressure is beginning to outweigh bearish pressure in the short term.
As stated earlier, the Upbit listing played a huge role in the breakout.
“Announcement on the Start Time of Trading Support for New Digital Asset Internet Computer (ICP): Supported Markets: KRW, BTC, and USDT markets. Trading Support Start Time: Scheduled for 2026-03-11 17:00 KST,” The exchange highlighted.
Besides that, Open interest (OI) for Internet Computer has surged by roughly 44%, signaling a sharp increase in leveraged positions as traders react to the recent market momentum.
The spike suggests that new capital is entering derivatives markets rather than just spot trading.
If this momentum continues, expanding positions could accelerate volatility and help push ICP’s price toward the $3 psychological level more quickly.
However, the rapid buildup also increases the risk of liquidation-driven swings if sentiment suddenly shifts.
ICP Price Outlook: Bullish
On the daily chart, ICP rebounded strongly from the $2 support zone and climbed toward $2.60, signaling a return of buying activity.
The move follows an extended downtrend that pushed the token below several key Fibonacci levels.
However, the recent breakout from a descending wedge suggests the selling pressure that dominated earlier may be easing.
Momentum indicators reflect this early shift. The Awesome Oscillator (AO) has moved into the positive region, though it continues to print red bars, indicating that bullish momentum remains but is slightly weakening.
Meanwhile, the Chaikin Money Flow (CMF) is trending upward, hinting that capital inflows are gradually returning to the market.
The next key level sits near $3. If the Upbit-driven demand sustains trading activity, the ICP crypto could test this psychological barrier sooner than expected.
Otherwise, a loss of momentum may push the asset back toward the $2 support zone.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Victor Olanrewaju is a crypto analyst and reporter at CCN with deep roots in on-chain research and technical analysis. His crypto journey began in 2017, but it was the 2020 Uniswap airdrop that sparked a full-time pivot into the space.
With a foundation in copywriting, Victor honed his craft creating high-converting content for leading crypto brokers — most notably an XRP price prediction that ranked #1 on Google during the 2021 bull run.
He later joined AMBCrypto in 2022, where he combined storytelling with technical and on-chain analysis to cover key market narratives.
In 2024, he expanded his expertise at BeInCrypto, collaborating with analysts and using tools like Glassnode, Santiment, and IntoTheBlock to break down Bitcoin and altcoin trends.
At CCN, Victor covers the top cryptocurrencies, memecoins, macro shifts, blending real-time insights with deep-dive metrics.
He holds a Bachelor’s degree in Physics from the University of Ibadan, equipping him to simplify complex data for a wide audience. Follow his work or connect on LinkedIn or X.
