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- ICX price bounced back from $1.65 to $1.92 on Tuesday’s trading session
- The 24-hour volume in ICX is at $359,581,375 with a 20.0% increase.
- The ICX/BTC pair was trading at 0.0000353 BTC with a gain of 20.65%
The 4-hour technical chart of ICX projects an uptrend. According to pivot points, ICX’s critical support level is placed at $1.65. Whereas if it moves up, the key resistance level to watch is $1.99. While diving into the weekly chart of a 4-hour time-frame, it completes a spinning top candlestick pattern. It means that neither buyers or sellers could gain the upper hand.
SMA-20, 50 & 100 acts as another strong support in the coin. SMA-20 (purple) intersects below SMA-50 (white), which projects a bearish trend. The price is way above the SMA-100 (red). Investors may not perceive any positive crossover on the chart but it may soon happen in the future trading sessions, the trend remains bearish for now.
RSI indicator (BULLISH), with a value of 58.40, indicates a buy signal in the coin. Moreover, Investors can see an upward slope in the index from 50 to 58, it may soar in future trading sessions bringing the asset’s price to the overbought zone.
Seoul Government Will Use Blockchain Network Of ICON (ICX)
Government of Seoul has declared mass execution of contactless online bookings for in excess of 7000 public administrations. This uses loopchain the core blockchain engine of the ICON network.
ICX Price Needs To Sustain Above $1.84
ICX price traded at $1.92 with a gain of 17.38% in the last 24-hour and 0.14% down in the weekly time-frame. In contrast, the market capitalization stands at $1.154 billion. Technically, investors may perceive a negative crossover in SMA. Moreover, the movement of price can be towards the resistance of $1.99 after a pullback from $1.65.
Resistance: $1.99
Support: $1.65
Mr, Nikhil Ingole is a Chief Editor at The Coin Republic with over five years of technical analysis & trading experience in Forex and Crypto. As a commerce graduate, he has taken a keen interest in blockchain’s future potentials in the financial industry. A keen cryptocurrency enthusiast, he is very supportive of new media projects, pioneer ideas and the Bitcoin community. He possesses strong technical, analytical skills and is well known for his financial market’s informative analysis. Other than crypto, Nikhil Loves to watch his favorite football team and keep up to date with the latest Formula 1 racing.
