ICON Price Prediction 2021 – Will ICX Hit $7 Soon?

ICON Price Prediction 2021 - Will ICX Hit $7 Soon?
  • Bullish ICX price prediction ranges from $1.01 to $5.25.
  • The ICX price might also reach $7.
  • ICX bearish market price prediction for 2021 is $0.45.

In ICX price prediction 2021, we use statistics, price patterns, ADX, and much other information about ICX to analyze the future movement of the cryptocurrency. 

The ICON Cryptocurrency (ICX) is a cryptocurrency network launched in 2017 by a South Korean company. The ICON blockchain network facilitates the connection and interaction of various other blockchain software programs.

ICON is a blockchain protocol that allows for the creation of decentralized applications. It achieves interoperability as an aggregator chain—a web of interconnected networks that aggregates all blockchain data into a single layer.

Current Market Status of ICON (ICX)

According to Coingecko, the price of ICX is $0.797 with a 24-hour trading volume of $45,768,763 at the time of writing. However, ICX surged to 5.98% in the last 24 hours.

Moreover, ICX has a circulating supply of 639,467,117 ICX. Currently, ICX trades in cryptocurrency exchanges such as Binance, CoinTiger, OKEx, Huobi Global and Upbit. 

ICON (ICX) Price Prediction 2021

ICON (ICX) holds the 107th position on CoinGecko right now. ICX price prediction 2021 explained below with a daily time frame. 

ICX/USDT Ascending Broadening Wedge Pattern (Source: Tradingview)

In the price chart, an ascending broadening formation looks like an inverted triangle. It represents market volatility, with buyers attempting to maintain control and sellers attempting to seize control. It is a bearish reversal pattern that appears during an uptrend. The price fluctuates between the upper resistance line and the lower support line in an ascending wedge pattern.

The price makes a low and then rises in an ascending broadening wedge structure. Traders then watch the price movement as it records higher highs and lower lows within a range. The peaks and throughs are then joined to form the upper and lower limit lines.

To confirm the pattern, the price must touch both the upper and lower trend lines three times in an uptrend movement, with the resistance line rising higher than the bottom line.

Currently, ICX is waving at $0.797. After this, ICX may continue to fall or rise according to the direction of breakout. With this pattern, ICX might reach the resistance level at $1.10 soon. If the trend reverses, then the price of ICX may fall to $0.45.

ICON (ICX) Support and Resistance Level

The below chart shows the support and resistance level of ICON (ICX). 

ICX/USDT Support and Resistance Level (Source: Trading view)

From the above chart, it is observed that the following are the resistance and support level of ICX.

  • Resistance Level 1 – $1.01
  • Resistance Level 2 – $1.90
  • Resistance Level 3 – $3.20
  • Resistance Level 4 – $ 5.25
  • Support Level 1 – $0.45
  • Support Level 2 – $0.25

The chart depicts the bullish performance of ICX over the previous month. However, this trend will continue to reach resistance level at $1.10 soon. On the contrary, if the trend reversed then ICX might fall to $0.45 presenting a bearish signal.

ICON (ICX) Average Directional Index (ADX)

Let us now look at ICX’s Average Directional Index (ADX). In particular, the ADX assists traders in determining the strength of a trend rather than its direction. It can also be used to determine whether the market is changing or if a new trend is beginning. It is, however, linked to the Directional Movement Index (DMI).

Moreover, the oscillator has a range of 0 to 100. In addition, a high value represents a strong trend, while a low value represents a weak trend. Furthermore, it is frequently combined with directional indicators.

ICX/USDT ADX (Source:TradingView)

The above chart represents the ADX of ICX with the range at 12.31, so it indicates a weak trend.

Conclusion

The ICX is one of the cryptos which is great for long-term investment. In addition, ICX price prediction will be bearish or bullish, until the breakout direction is confirmed. But, it has a good chance of reaching $5.25 this year. However, this will only happen if many previous psychological barriers are broken.

Furthermore, with the advancements and upgrades on the ICX ecosystem, the performance of ICX would rise reaching $5.25 very soon. But, it might also reach $7 if the investors believe that ICX is a good investment in 2021.

Disclaimer: The opinion expressed in this chart solely author’s. It is not interpreted as investment advice. TheNewsCrypto team encourages all to do their own research before investing.

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