ICON Price Analysis: ICX Coin 20% Green Despite A Red Flag In Crypto Market

The ICX coin started displaying positive signs from the $1 support from mid-December. The increasing underline bullishness of the price initiated a new rally which is currently 65% from the bottom. Today, the token showed a sudden boost in its price, which could be triggered by the 1:1 Airdrop of both ICY and ICZ tokens for ICX and sICX holders.
ICON/ICX Coin In The Daily Time Frame Chart
Source-Tradingview
Past Performance in ICX coin Chart
The ICON coin price carried a steady rally from late July, making a high point at $2.7. However, this peak was a third touch to the resistance zone near $2.5, and after the last retest, the coin entered a correction phase. The pair lost 58% from this previous high and plummeted to the 0.786 Fibonacci retracement level.
ICON Coin Price Breaks Out From A Rounding Bottom Pattern
The ICX coin stayed near $1 support for nearly two weeks, trying to identify sufficient demand pressure. The coin chart started showing lower price rejection candles to begin a recovery rally at this support.
This new rally eventually showed a rounding bottom pattern in the 4-hour time frame chart. Today, the price finally provided a decisive breakout from the $1.8 neckline, indicating more potential for this rally.
The pair is currently in a retest phase and trying to hold above the new support. The crypto traders can consider entering a long position if the price shows enough sustainability above this level or $1.65.
By the time of writing this article, the ICON coin is trading at $1.82, with an intraday gain of 17%. The 24hr volume change is $593.8 Million, indicating a 818.42% hike. As per the Coinmarketcap, the coin stands at 83rd rank with its current market cap of $1.26 Billion(+10.36).
ICX Coin In The 4-hour Time Frame Chart
Source-Tradingview
Technical Indicators-
-The daily Relative Strength Index(53) of the 12-hour time chart frame shows a steady upward rally, approaching the overbought territory.
-Today, the ICX price crossed above the 50 and 200 EMA line with its huge bullish candle, reclaiming its bullish alignment.
-the important chart level for this coin are;
Resistance; $2, $2.2
Support; $1.8, $1.68-1.66
- Pi Network Mainnet to Get Major Upgrade in Q4, Says Expert
- Bitwise Solana ETF to Launch This Week as It Amends Staking, Fees? Bloomberg Weighs In
- Canary Capital Trump Coin ETF Secures DTCC Listing as Expert Predicts Price Breakout
- Polymarket Founder Shayne Coplan Teases Potential POLY Token After $2B ICE Deal
- FOMC Minutes Signal Fed Open to More Rate Cuts This Year, Bitcoin Bounces
- Bitcoin Price Prediction as US Govt. Shutdown Extends- What’s Next for BTC?
- Solana Price Megaphone Points to a Parabolic Move as SOL Treasuries Near $3B
- XRP Price Prediction Amid ETF Approval Roadblock as Analyst Warns of $2.72 Dip
- Binance Coin Price Prediction If It Surpasses Bitcoin Marketcap— Is $3000 Possible in 2025?
- ASTER vs HYPE Price Analysis – Which Perp DEX Token Looks Poised to Dominate Q4 Performance?
- Ethereum Price Could Soar to $6,500 as BlackRock’s ETF Nears $20B Milestone