- The bulls are reigning the cryptocurrency market.
- ICON price analysis shows price at $2.203.
- Support is sufficiently strong at $1.219.
The upswing is at its peak according to the latest one-day and four hours ICON price analysis. The bulls have been gliding quite smoothly on the price charts and the price levels have been improved remarkably. This situation is providing favorable circumstances for the buyers, as the price just reached its highest point i.e. $2.203 in the past few months. It is expected that the price might cross $2.46 resistance in the coming week as well.
ICX/USD 1-day price chart: Price shoots past $2.203 as bullish trend amplifies
According to the 1-day price chart for ICON price analysis the bulls are ruling the one-day price chart and the price has been constantly on the rise. The upward movement in price has taken it to the $2.203 level, which is a huge accomplishment for the bulls. The SMA 20 curve is also ascending and it can be assumed that the price might hit its $2.46 target quite soon. It has dodged past the moving average (MA) value as which is standing at the $2.16 level.
The volatility has increased quite rapidly providing further space for upwards price movement. As the Bollinger band values have changed as well as now the upper band is at the $2.46 mark while the lower band is at $1.22. The Relative Strength Index (RSI) score is 63 which is quite near the over-bought limit.
ICON price analysis: ICX value descends down to $2.201 after bearish push
The circumstances are turning unfavorable for the cryptocurrency, as the price has experienced a decline in the last four hours, as per the 4-hour chart for ICON price analysis. The bearish momentum has returned back causing a reduction in price up to $2.201. This has been quite unpredictable as the bullish trend was at its peak during the earlier part of the day. However, the current price is still standing above the moving average value which is at $2.171.
Although a crossover between SMA 20 and SMA 50 took place earlier, the current trend is going bearish. The upper and lower values of the Bollinger bands Indicator are as such; the upper band is standing at $2.232 while the lower band is at $2.085. The RSI score has declined up to 54 in the last 4 hours as well.
As the past few months have seen eminent improvement in the coin value, the technical indicators chart is displaying a bullish signal. There are 15 indicators standing at the buying position, 10 indicators at the neutral position while only one indicator is standing at the selling position.
The moving averages indicator is giving out a strong bullish signal as well, thus favoring the buyers. There are 14 indicators present on the buying position, with only one indicator on the neutral and zero on the selling positions. The Oscillators are giving a neutral hint for the day with nine indicators on the neutral mark, and one indicator each on the selling and buying marks.
ICON price analysis conclusion
The price has been advancing quite swiftly according to the one-day and four hours ICON price analysis. The price levels have heightened up to the $2.203 level because of the constant uptrend that has been following for the past few weeks. A drop in price can be expected in the upcoming hours as the hourly price chart is not giving a promising signal.
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