- ICON price analysis suggests that the price is heading in the Bearish zone.
- ICX crypto price has melted by almost 29% this month, demonstrating bears are active in the ICX.
Applications leverage the ICON platform to facilitate smooth cross-chain interactions, enhancing their growth and credibility. The platform’s Cross-Chain Framework streamlines the development of cross-chain capabilities, offering a straightforward xCall messaging protocol and access to reliable bridging protocols.
The platform’s proprietary ICX coin is the cornerstone of interoperability, with a significant portion of transaction fees paid in ICX being eliminated through burning. This framework is versatile, supporting applications coded in various programming languages, and is compatible with an expanding array of blockchains.
ICON Crypto Break Below the Key EMAs, What Next?
The ICON crypto (ICX) crypto price is in the bearish region and has displayed bearish waves in past sessions. Moreover, cryptocurrency has been struggling to sustain gains recently and is heading downward. The crypto has declined over 30% this month, demonstrating the bearishness in recent sessions.
At press time, the ICON crypto (ICX) price was trading at $0.23649741 with an intraday loss of 1.25%, indicating bearishness on the charts. It has a monthly negative return of 30% and 12% yearly. It has a market cap of $232.34 Million. Analysts are bearish and suggest the ICX price will attain lower levels in upcoming sessions as bears look active.
The relative strength index (RSI) reflected a bearish perspective on the price momentum. This indicates that sales have increased in the current sessions compared to those in the buying ones. RSI is moving at 38.84 below the 50-mark middle band.
The price may soon try to make a bullish comeback. Moreover, as it trades below the key EMA levels, the buyers will have to overcome multiple resistance levels to reach the target. Buyers are currently working hard to regain the momentum.
ICON Crypto Price vs. Volume Analysis vs. Market Cap
The volume, market cap, and price graph displayed that the trading volume has been in the last few days, and the price has also declined. In the previous week, the price has melted 50% with price. The trading volume and market cap also declined, so the price is expected to go down in the short term.
ICON Crypto Social Dominance vs Social Volume Analysis
According to the graph, the decrease in awareness and interaction on social media platforms like X, Instagram, and Telegram has negatively impacted the price of ICON crypto. The future momentum of the ICON crypto price may depend upon social dominance and social volume.
Conclusion
The ICON crypto (ICX) price is currently in the bearish zone, with a monthly negative return of 30% and a market cap of $232.34 Million. Analysts suggest the ICX price will lower in upcoming sessions as bears look active. The relative strength index (RSI) reflected a bearish perspective on the price momentum. The decrease in awareness and interaction on social media platforms like X, Instagram, and Telegram has negatively impacted the price of ICON crypto. The future momentum of the ICON crypto price may depend upon social dominance and social volume.
Technical Levels
Support Levels: $0.15633 and $0.15633.
Resistance Levels: $0.28033 and $0.3442.
Disclaimer
It’s important to note that the views and opinions presented in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading stocks carries inherent risks, and readers should conduct their research before making any financial decisions.