ICON Price Analysis: ICX Price Looking To Test The Resistance Of $2.5

ICX Bulls Ready for the next run
  • ICX Price is currently trailing in a accumulation zone with an intraday loss of 2.16%
  • ICON is trailing at the value of $1.88 with a gain of 0.76%.Meanwhile the ICX/BTC pair has seen a loss of 4.03%
Source:Trading view

ICX price is currently at a value of $1.88 with a loss of 2.42%.ICX price on going upwards will see resistance at the value of $2.2, and on the downside, it will support at the value of $1.55. ICON made a 52 week high on FEB 20,2021. After making a new high, the price retraced back to 20% of the 52 week high.

ICON is currently at 71st rank with a market capitalization of $1,118,930,381. ICX volume traded in the last 24-hour has seen a loss of 43.32% in the intraday session.

Technical Indicators Suggests A Positive Momentum For ICX Price

Source:Trading view
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ICX price is currently seeing a bearish momentum with the support at the value of $1.5.According to the Fibonacci retracement, the price is currently in between fib1.89 and fib 1.75. ICX forms a bullish pattern that highlights the probability of the price going above the accumulation zone.

SMA-50 & 100 acts as another strong support in the coin. SMA-50 (RED) intersects SMA-100 (YELLOW), which is the beginning of a positive trend. Investors can observe the price is sustaining above both the SMA’s on Today’s trading session.

RSI(Bearish): It is currently trailing at the value of 52.82, showcasing its presence in the overbought zone. There is a negative slope formation in the RSI, highlighting that the price may see a reversal before retracing back to the higher levels. The overall sentiment of RSI is negative

CONCLUSION

ICX price is at $1.88 with a loss of 2.42% in the last 24-hour time-frame. ICON maintains a gain of 1.17% on the weekly time-frame. In contrast, the market capitalization lost its value by 2.1%. An Investor should do their due diligence before investing.

Technical Levels

Resistance: $2.20

Support: $1.55

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Adarsh Singhhttp://www.thecoinrepublic.com
Adarsh singh is an Stock market and financial market advisor trader with background in Engineering. He specialises in Technical Analysis while possessing strong computational skills.

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