ICON Cryptocurrency Forecast
ICON cryptocurrency price ended at $0.230 on Sunday, after gaining 0.262%.
(Updated on May 05, 2024)
The ICON cryptocurrency price gained 0.262% on the last trading day (Sunday, 5th May 2024), rising from $0.229 to $0.230. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the cryptocurrency fluctuated 3.34% from a day low at $0.225 to a day high of $0.232. The price has risen in 6 of the last 10 days but is still down by -5.32% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 million more shares were traded than the day before. In total, 3 million shares were bought and sold for approximately $772.26 thousand.
The cryptocurrency is at the lower part of a very wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $0.214 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect ICON cryptocurrency with a 90% probability to be traded between $0.214 and $0.373 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and cryptocurrencies seldom manage to go directly from the bottom of a trend up to the top. Cryptocurrencies turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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ICXUSD Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, May 01, 2024, and so far it has risen 7.29%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). ICON has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. The ICON cryptocurrency holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the cryptocurrency giving a more negative forecast for the stock. On further gains, the cryptocurrency will meet resistance from the long-term Moving Average at $0.263. On a fall, the cryptocurrency will find some support from the short-term average at $0.225. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.
Support, Risk & Stop-loss for ICON cryptocurrency
ICON finds support from accumulated volume at $0.227 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This cryptocurrency has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the cryptocurrency moved $0.0075 between high and low, or 3.34%. For the last week, the cryptocurrency has had daily average volatility of 5.89%.
Our recommended stop-loss: $0.220 (-4.14%) (This cryptocurrency has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 4 days ago.)
Trading Expectations (ICXUSD) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect ICON to open at $0.229, and during the day (based on 14 day Average True Range), to move between $0.210 and $0.249, which gives a possible trading interval of +/-$0.0194 (+/-8.46%) up or down from last closing price. If ICON takes out the full calculated possible swing range there will be an estimated 16.92% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.227 (1.18%) than the resistance at $0.239 (4.14%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is ICON cryptocurrency A Buy?
ICON holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: -0.025 Hold/Accumulate Unchanged
Predicted Opening Price for ICON of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $0.229 ( 0.334%) | $0.230 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ICXUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.236 | 2.93 % | |
| R2 | 0.233 | 1.68 % | ||
| R1 | 0.232 | 0.91 % | ||
| Current price: | 0.230 | |||
| Support | S1 | 0.226 | -1.58 % | |
| S2 | 0.224 | -2.35 % | ||
| S3 | 0.221 | -3.60 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.262 | 14.29 % | |
| R2 | 0.246 | 7.23 % | ||
| R1 | 0.239 | 4.14 % | ||
| Current price | 0.230 | |||
| Support | S1 | 0.227 | -1.18% | |
| S2 | 0.226 | -1.44% | ||
| S3 | 0.224 | -2.57% |
FAQ
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