The ICP weekly chart has lived in oversold territory for its entire life. But even the shittiest of coins can show signs of life.
1) It is possible that ICP is in a macro falling wedge and we have potentially reached the bottom.
2)ICP's RSI has to be one of the most oversold RSI in crypto. On the weekly we see signs of an end to bearish momentum as show by the bullish divergence.
Assuming we are still in a bull market. I could see ICP break out of this wedge and finding resistance at around the $40 mark. Followed by a retest and a show of support at around $32 before heading higher.