ICON price action shows bullishness, as ICX crypto maintains the gains on the higher side in the bullish zone and disregards the rejections. The bears are still making short positions and attempting to cause a pullback in the crypto.
ICON crypto exhibited bullishness and kept holding the gains above the top. Bulls are accumulating the crypto and preparing to cross $0.31546775 in the next sessions.
The chart formation shows the bulls’ momentum and signals a positive outlook on the charts. ICX crypto is aiming to achieve a breakout soon, and investors are watching it closely.
The price action shows a strong chart structure with buyers’ dominance, and long buildup activity was observed in the past trading sessions. Moreover, sellers were now becoming cautious due to the vertical rally that trapped sellers in the past weeks.
ICON’s price was at $0.25931369 and has gained 0.70% of its market capitalization during the day’s trading session. The last 24-hour trading volume was 6.751 Million. This demonstrates that buyers are trying to accumulate in order to surge toward the upper price range.
Technical Analysis of ICON Crypto Price in 1-D Timeframe
ICON (USD: ICX) has steadily seen its crypto price rise for the past three months, gaining 57.62% and 35.19% in the last six months. At press time, ICX crypto was trying to hold on to this level after an unexpected surge in price.
Currently, ICON crypto (USD: ICX) is trading above the 50 and 200-day EMAs (Exponential moving averages), which are supporting the price momentum.
The current value of RSI is 50.74 points. The 14 SMA is above the median line at 56.24 points which indicates that the ICON crypto is bullish.
The MACD line at 0.00371927 and the signal line at 0.00594471 are above the zero line. A bearish crossover is observed in the MACD indicator which signals weakness in the momentum of the ICX crypto price.
Weekly-Time Horizon Analysis
ICON crypto has shown buyers’ strength on the weekly charts. Moreover, the price traded above the key EMAs, which shows further strength in the crypto. The RSI curve is near the overbought region at 56, and a positive outlook was noted, indicating bullishness in the crypto. The MACD indicator also persisted to form green bars, and a bullish crossover was noted, highlighting bullishness.
Summary
ICON (USD: ICX) technical oscillators also support the bullish trend. The MACD, RSI, and EMAs are emphasizing positive signs and imply that the uptrend may continue in the ICX crypto price. Price action suggests that the investors and traders are bullish on the 1-day time frame. The price action reflects a bullish perspective at the moment. However, investors and traders should wait for proper setup for the next move and avoid FOMO.
Technical Levels
Support Levels: $0.156337238.
Resistance Levels: $0.31546775
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your own research before making any financial decisions
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.
Source: https://www.thecoinrepublic.com/2023/12/14/icon-crypto-price-forecast-will-icx-crypto-be-bullish-in-2024/