ICON Cryptocurrency Forecast
ICON cryptocurrency price up 0.305% on Saturday
(Updated on May 18, 2024)
The ICON cryptocurrency price gained 0.305% on the last trading day (Saturday, 18th May 2024), rising from $0.230 to $0.230. During the last trading day the cryptocurrency fluctuated 6.60% from a day low at $0.220 to a day high of $0.234. The price has risen in 6 of the last 10 days and is up by 0.57% over the past 2 weeks. Volume fell on the last day by -2 million shares and in total, 1 million shares were bought and sold for approximately $252.03 thousand. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The cryptocurrency lies in the lower of a very wide and falling trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.208 is broken, it will firstly indicate a stronger fall rate. Given the current short-term trend, the cryptocurrency is expected to fall -21.60% during the next 3 months and, with a 90% probability hold a price between $0.163 and $0.255 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
ICXUSD Signals & Forecast
The ICON cryptocurrency holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the cryptocurrency has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $0.222 and $0.230. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, May 13, 2024, and so far it has risen 7.82%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
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, but be aware of low or falling volume as this increases the risk. During the last day, the cryptocurrency moved $0.0145 between high and low, or 6.60%. For the last week the cryptocurrency has had daily average volatility of 5.08%.
Our recommended stop-loss: $0.222 (-3.46%) (This cryptocurrency has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 5 days ago.)
Trading Expectations (ICXUSD) For The Upcoming Trading Day Of Sunday 19th
For the upcoming trading day on Sunday, 19th we expect ICON to open at $0.228, and during the day (based on 14 day Average True Range), to move between $0.217 and $0.244, which gives a possible trading interval of +/-$0.0137 (+/-5.95%) up or down from last closing price. If ICON takes out the full calculated possible swing range there will be an estimated 11.90% 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 (1.43%) than the resistance at $0.246 (6.95%), 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: 0.486 Hold/Accumulate Unchanged
Predicted Opening Price for ICON of Sunday, May 19, 2024
| Fair opening price May 19, 2024 | Current price |
|---|---|
| $0.228 ( 0.94%) | $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 | 0.243 | 5.36 % | |
| R2 | 0.237 | 2.95 % | ||
| R1 | 0.234 | 1.46 % | ||
| Current price: | 0.230 | |||
| Support | S1 | 0.222 | -3.35 % | |
| S2 | 0.219 | -4.83 % | ||
| S3 | 0.214 | -7.24 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.262 | 13.99 % | |
| R2 | 0.247 | 7.34 % | ||
| R1 | 0.246 | 6.95 % | ||
| Current price | 0.230 | |||
| Support | S1 | 0.227 | -1.43% | |
| S2 | 0.224 | -2.82% | ||
| S3 | 0.214 | -7.04% |
FAQ
Click here for our free guide on how to buy ICON Cryptocurrency.
