Internet Computer Tokens Up 12% to Close to $3: Why Is ICP Price Rising?
Internet computer prices jumped 12% to $3 in Asian trading hours. The ICP token has reached an intraday high on the news of Upbit's support list. If ICP breaks above $3, it can retest the $4.55 high.
The Internet Computer Protocol (ICP) token rose sharply early Wednesday, trading to $2.94 amid a double-digit increase in daily trading volume.
While the upside comes amid a modest resurgence in broader cryptocurrency market volatility, what drove ICP's gains?
In the year As of writing on March 11, 2026, the price of the token is hovering around $2.76, and the main question is whether the bulls can extend the upward movement.
Why did the price of ICP increase?
The Internet Computer Token's gains mirror those of the Artificial Superintelligence Alliance and Render Tokens, both of which have seen heavy trading amid new AI sentiment.
Bitcoin ticks up to $71k and altcoins seem to have been bought.
However, one reason why ICP prices are higher today may be the news that Upbit, South Korea's largest crypto exchange, will list ICP for spot trading.
The announcement on March 11 featured pairs on Korean Won (KRW), Bitcoin (BTC) and Tether (USDT).
As with other such listings, Upbit's move could open up ICP to millions of new users.
In particular, support on Upbit will significantly increase the ICP exchange's liquidity and trading, which means that the exchange has a major market share in one of the most active crypto regions in the world.
Internet Computing Protocol aims to provide native cloud computing capabilities, positioning ICP as the underlying blockchain for Web3 applications that can replace traditional cloud services and IT infrastructure.
Analysts expect the list to drive greater adoption, particularly as South Korean retail investors flock to innovative layer-1 projects amid growing interest in AI and decentralized technology.
ICP cost analysis
ICP's rise to $2.90 followed a period of consolidation, showing price volatility between $2.30 and $2.60.
Wednesday's highs allowed buyers to breach resistance, as the data indicated bulls did on higher trading volumes. Can the price of ICP rise?
From a technical perspective, the daily chart paints a short-term bullish picture.
The daily RSI has risen but is still below the overbought range, while the MACD is showing upside on the expanding histogram.
Bulls have pushed above the 50-day moving average (currently at $2.60).
If supported momentum continues, a breach and successful test of $3.00 could open the way for the 200-day moving average to take a profit at $3.73.
A key support reversal and resistance zone hovers around $4.55.
However, the fear and greed gauge is cautious about market sentiment lingering in “fear” territory.
Therefore, the positive trend for ICP holders can still reverse negative.
If prices fall below $2.50, demand reload zones could be $2.35 and then $2.20.
