- The ICX coin price is currently at $0.2152.
- The coin price experienced an increase of 16.70% since it gave a breakout of the range.
The ICX coin price prediction for the upcoming months is bullish as long as it is sustained above the $0.1883 level. From mid-August to mid-October, the ICX coin price consolidated in a range of $0.1504 to $0.1883 after a continuous decline. The coin price has surged by 42.65% from its $0.1504 support level, which broke the bearish formation of lower highs and lower lows. On the way to its bullish rally, it broke the descending trendline and the $0.1883 resistance level, which grabbed the attention of the crypto investors.
This made the price rise even higher, forming a pattern of higher highs and higher lows. However, the ongoing bull rally seems to be getting exhausted and is facing rejection from the $0.2522 resistance zone. However, the higher highs formation is still maintained, which shows that the bulls can bounce back at any time. The ICX coin price has experienced a decline of 4.13% in the last 24 hours. The coin price is currently at $0.2138 with a trading volume of $2.364 Million. It has a market capitalization of $223,402,800 and is currently ranked in the 146th position by CoinMarketCap based on its market capitalization.
Will the Price Continue its uptrend?
After reclaiming the 50-day EMA and 200-day EMAs, the price is now sustaining above them, indicating that the bulls still hold control of the price. A strong bullish candle formed above the EMAs will indicate the comeback of the bulls in the market and show that the price is ready to continue rising. The bullish crossover is yet to occur which will also signal that the bulls are ready to make the price rise.
The relative strength index (RSI) is at 60.52, which is marked as bullish territory. The downward slope of the RSI line shows that the price is in a correction phase. This indicates the RSI divergence has occurred as the price is in an uptrend and the RSI is in a downtrend. However, the RSI line is expected to adjust itself according to the price after taking support from the 50 level.
Is a Follow-Up Momentum Expected in the Upcoming Days?
The volume bar has increased showing the interest of the investors in the ongoing uptrend. The technical indicators are also bullish overall. If a follow-up momentum arrives in favor of the bulls, they can make the price close above the $0.2522 resistance level. After this, it is expected the price may experience a further rise in the future and reach its next resistance at $0.3130. The breakout of this level will trigger the next wave of bullish momentum to the next resistance at $0.3956.
On the lower side from the bears’ perspective, if the price closes below the $0.1833 support level, the bulls will lose their control over the price. This can make the price fall to its next support at $0.1504 because of the panic selling that would occur.
Conclusion
The price prediction for the ICX coin presents a bullish outlook. The overall crypto market has had a positive gain in the last 7 days which could have a positive impact on the other altcoins. So, we can expect a rise in the price in the future.
The analysis indicates that the bulls maintain a strong hold on the price, and the current upward movement, following the breakout at $0.1833 with higher high formations, is considered to be dependable and robust.
Technical levels
- Resistance Levels: $0.2522, $0.3130, and $0.3956.
- Support Levels: $0.1833 and $0.1504.
Disclaimer
The views and opinions stated by the author or any other person named in this article are for informational purposes only. They do not provide financial, investment, or other advice. Investing or trading in crypto comes with a risk of financial loss.