ICP price jumped over 10% after the token was listed on Upbit, adding roughly $100 million to its market cap within hours.
Summary
- Internet Computer surged after South Korea’s largest exchange, Upbit, added ICP trading pairs.
- The listing opened access to Korean retail traders, driving a sharp rise in price and trading volume.
- ICP is now testing resistance near the $2.70 level, which aligns with its 200-day moving average.
Internet Computer (ICP) rallied on March 11 after its token ICP was listed on the South Korean exchange Upbit. The listing opened the door to a new pool of retail traders and triggered a quick surge in price and trading activity.
Upbit added ICP to its spot market with KRW, BTC, and USDT pairs, allowing Korean traders to buy the token directly with the local currency. Trading went live around 17:00 KST, bringing ICP into one of the most active retail crypto markets in Asia.
ICP price climbs after listing
Soon after the launch, ICP climbed sharply, rising about 20%. Prices moved from roughly $2.35–$2.40 earlier in the day to around $2.79, with the rally briefly pushing toward $2.90 in some trading sessions. The token was still up 10% at press time, trading at $2.74.
The move also lifted the project’s market value. At one point during the rally, around $100 million was added to ICP’s market capitalization within roughly an hour, as reported by CoinGecko. This shows the rapid jump in demand following the exchange listing.
Trading activity increased at the same time. Daily volume surged 867% as traders reacted to the news, rising as liquidity flowed in from the new market.
Listings on large exchanges in South Korea often trigger quick rallies because local traders prefer KRW trading pairs, which offer direct fiat access. Many tokens see sharp short-term spikes after gaining exposure on the platform.
ICP price technical analysis
ICP is is showing early signs of a bullish recovery after weeks of downward pressure. On the daily chart, ICP has bounced from a multi-week support zone near $2.05–$2.20, forming a consolidation base before printing a strong bullish breakout candle toward the $2.70 resistance zone.
The move comes after an extended decline that began in mid-January, marked by lower highs and lower lows. The current price action suggests the possibility of a short-term trend reversal, though confirmation depends on whether buyers can sustain momentum above key resistance levels.
Momentum indicators are starting to improve. ICP has surpassed its 50-day moving average at $2.38, indicating a return to short-term strength. .
As the price moved closer to the upper band, the Bollinger Bands grew wider, indicating greater short-term momentum. The relative strength index, which shows increasing buying pressure while still below overbought territory, has risen to about 60–63.
If buyers manage to hold above the $2.70 resistance, the next levels traders are watching sit around $2.90–$3.00, followed by $3.40–$3.50.
However, if the breakout fails, the market could pull back toward support near $2.38, then $2.20, with the $2.05 area being a key level that must hold to sop further decline.
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