ICP Technical Analysis February 23, 2026: Weekly Strategy

ICP closed the week at $2.04 with a %4,13 decline; while accumulation signs are visible in the oversold region (RSI 28), the long-term downtrend maintains its dominance and Bitcoin pressure is challenging altcoins.

ICP in the Weekly Market Summary

ICP moved in the $2,01-$2,16 range during the weekly evaluation period, experiencing a %4,13 loss and closing at $2,04. While market volume hovered around 60 million dollars, the overall trend structure continues the downtrend. Momentum indicator RSI at 28,23 is approaching the oversold limit, but the MACD histogram gives positive signals implying a short-term momentum change. Unable to stay above EMA20 ($2,40), short-term bearish signals activated. In the big picture, ICP market phase stands at a critical juncture before potential accumulation after distribution; however, Bitcoin's downtrend continues to create pressure on altcoins. Detailed ICP spot analysis for more.

Trend Structure and Market Phases

Long-Term Trend Analysis

On the long-term chart (weekly and monthly timeframes), ICP maintains its downtrend structure. The main trend filter gives a bearish signal and the price continues to stay below the key resistance at $2,66. Market structure reflects a typical consolidation phase before forming higher high/lower low; however, the lower lows formed in recent weeks ($2,01) confirm the trend's integrity. Market structure shows nearly %80 value loss since previous peaks around $4,50 and in the big picture, the final stages of distribution phase are visible. For this structure to break, weekly closes above $2,66 are required; otherwise, the downtrend remains intact.

Accumulation/Distribution Analysis

When examining the market volume profile, the area around $2,00 stands out as a high-volume support region (score: 78/100), carrying potential accumulation phase characteristics. The volume increase despite falling prices in recent weeks may indicate smart money accumulating positions at lows. However, resistance tests in the $2,07-$2,16 range (score: 91/100) trigger distribution patterns; high-volume rejections predict the exit of weak hands. Overall phase analysis, according to Wyckoff methodology, presents a spring potential before mark-up after re-distribution, but volume increase is needed for confirmation. ICP futures market data reflects these dynamics more clearly.

Multi-Timeframe Confluence

Daily Chart View

On the daily timeframe, price touched the $2,01 support forming a divergence in oversold (RSI 28); while the MACD histogram approaches a bullish crossover, staying below EMA20 sustains bearish pressure. Among 9 critical levels, daily shows confluence of 1 support ($2,00) and 2 resistances ($2,07, $2,66). Market structure appears to have passed support tests at local lows; however, short-term bearish remains intact without breakout. Confluence is supported by volume clusters around $2,04.

Weekly Chart View

The weekly chart reflects a clear down channel in trend structure; as price approaches the channel lower band ($2,00), 2 supports (high scores) and 4 resistance confluences dominate. Supertrend remains in bearish filter and although weekly RSI is oversold, the momentum histogram gives a slow recovery signal. Multi-timeframe confluence indicates that for the daily bounce to break the weekly trend, a $2,66 close is required; current position looks like the early stage of accumulation phase.

Critical Decision Points

Main support level $2,0000 (score 78/100), below it unlocks $0,8957 downside risk. Critical resistance $2,0717 (score 91/100), above brings $2,9582 upside target; $4,5091 is the long-term inflection point. These levels that will determine market direction should be tested with volume: $2,00 break triggers panic selling, while breakout above $2,07 can start a rally. Visit our ICP and other analyses homepage.

Weekly Strategy Recommendation

In Bullish Case

If it breaks $2,0717 resistance with high volume, first target $2,9582 (R/R ~2:1); stop-loss below $2,00. For position traders, long bias can be increased with confirmation of weekly close above $2,40 EMA. With accumulation phase confirmation, multi-leg targets up to $4,50 are possible; however, BTC context should be monitored.

In Bearish Case

If $2,00 support breaks, short opportunity down to $0,8957 (R/R ~3:1); manage with trailing stop. As long as trend remains intact, bearish bias dominates, distribution continues. Position sizing should be limited to %2 risk.

Bitcoin Correlation

ICP shows high correlation with BTC (0.85+); BTC at $64,381 with %4,51 decline in downtrend and supertrend bearish. BTC supports break at $62,932/$61,227 could push ICP to $1,80s; resistance above $65,320 brings relief. BTC dominance rising signals altcoin caution; ICP independent movement limited, BTC below $62k strengthens ICP short bias.

Conclusion: Key Points for Next Week

Next week focus: $2,00 support test and $2,07 breakout attempt; volume increase is the confirmation key. BTC below $63k increases ICP pressure, oversold bounce possible up to $2,66 but wait for close for trend reversal. Position traders, stay R/R focused and monitor macro cycles.