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- 1 The ICX crypto started a downside correction after it broke below the 50-Day EMA.
- 2 ICON price currently trades at $0.225 with an Intraday loss of 2.46%.
ICON price dropped nearly 2.46% in Intraday today and is expected to fall further. The bears are dominating in the short run and are attempting to break below the recent demand zone.
In addition, the short term trend became bearish after the bulls failed to hold above 50-Day EMA support last week. The price retraced the 50-Day EMA several times and rebounded with bullish force.
However, the bulls could not resist more and the ICX crypto fell below once the bears showed their strength near the 200-Day EMA.
ICON Network is a blockchain platform that aims to create a multichain bridging solution that can connect different blockchains with each other. It is a hub that uses Blockchain Transmission Protocol (BTP) to enable cross-chain token swaps and smart contract calls.
As per CoinMarketCap, ICON thas integrated with many blockchains, such as Binance Smart Chain, Near, Harmony, Moonriver, Polkadot, ICE/SNOW, Ethereum among others. It also has a vibrant ecosystem of dApps, including deFi protocols, NFT platforms, games, and more.
Moreover, the price analysis over the daily chart shows that the bears are gaining momentum gradually while the bulls are losing momentum. The recent drop has dragged the price below the 200-Day EMA indicating the strengthening bearish momentum.
At the time of writing, the current value of RSI is 39.05. The 14 SMA line hovers below the mean line at 47.24 points which indicates the weakness in the price.
ICON Price Prediction January 2024
The most positive view of analysts is an upside potential of over 12.89%, which could drive the ICON crypto price above the $0.255 mark. While the bearish view of analysts hopes the price drops to the $0.194 level.
ICON Price Prediction 2024
The optimistic view of analysts expects a price hike of over 49.01% by the end of the year, which may take the price to a high of $0.340. Furthermore, the bearish view of analysts suggests the ICX/USD price could rise to a high of $0.287.
ICON Price Prediction 2025
Over the next two years, the optimistic view of analysts expects that the ICX cryptocurrency price may reach a high of $0.510. The minimum forecasted price by the end of 2025 is $0.374.
ICON Price Prediction 2026
The ICON cryptocurrency price could attain a high of $0.644 if an optimistic trend prevails in the crypto market. On the flip side, the pessimistic view of the analysts expects the price to reach $0.510 by 2026.
ICON Crypto Price Prediction 2027
According to the analysts’ price forecast for the year 2027, the most optimistic view of analysts for the ICON token estimates a price target of $0.736. The minimum price target that ICX may achieve by 2027 is $0.592.
ICON Crypto Price Prediction 2028
The analysts are optimistic about ICON cryptocurrency (ICX) for the upcoming years and predict that the price could go up to $10.02 in the next four years. However, the pessimistic analysts expect the price to reach a high of $0.828.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
