ICON (ICX) Price Analysis May Take off While Many Coins Correct Their USD Values
The cryptocurrency-asset token market is currently in a key moment of price correction as we predicted in our previous post.
The key support of Bitcoin of 7600 awaits many that is not reached, because if so could counter what has been achieved so far. At the time of writing, the main cryptocurrency has a contraction of 1.5%, losing dominance in the crypto space to decrease 0.03%, but the market is still strong with more than $ 244 billion of stock market capitalization.
As a result, many altcoins have seen the gains made yesterday go back considerably, but others like ICON (ICX) remain green and are likely to generate more profits for their investors.
At the time of writing, the cryptocurrency quotes at a spot price of $ 0.379 USD with growth of -1.39% in the last 24 hours. Its market is almost $ 180 million dollars, enough to stay within the top 50 of cryptocurrencies, occupying the 47th position.
In the short term, its trajectory is upward and presents a slight correction in its prices, with key support at levels of $ 0.34 and an immediate resistance, already achieved of $ 0.43.
The Aroon indicator becomes bearish, but with signs of reversal of its current trend, as its Downtrend indicator begins to show signs of going to the bottom of the chart.
CMF for its part has already managed to position itself above the average level, and at its end, it indicates that a new bull run is close as new capital begins to enter the ICX ecosystem.
In that same order, Momentum has begun to give signs of life, with a change in the current pattern that seems to indicate that it is heading north, a symptom of an upward trend.
In the medium-long term, ICON has created an upward trend since December 2018 and is currently projecting a bullish wave that could target R1 $ 0.698 USD in the medium term.
To confirm this, Stochastico becomes positive and begins to enter the overbought zone, where pressure from buyers drives the price of the asset.
For its part, the Parabolic SAR indicator is bullish, drawing its trajectory below the last candles.
To finish, EMA 100 days is the immediate support that was already broken without any problem by ICX, and which is expected not to be achieved in the medium term.
ICON is a project that seeks to connect several independent blockchains without the use of third parties or additional intermediaries through its platform, using the ICX token as the GAS payment for its interoperability. ICON aims to become the largest that has ever existed, where even some call it the Korean Ethereum.
ICON is a scalable smart contract platform that uses innovative technology to
‘hyperconnect from the world'.
It offers its ICON-LOOP technology, which has been adopted by many companies in South Korea as life insurance, universities, and government departments, being the base between chains between the many projects in the network and the Hyper-Connecting network.
The project has also worked closely with the metropolitan government of Seoul, developing concepts for the payment token of stable currencies, digital identity applications and even voting requests, with the promise of governments joining the list of associations.
They have also signed with Samsung, for their cryptographic wallet in the S10 line, in which the smartphone manufacturer uses ICON-LOOP to identify the chain in the Samsung Pass.
It was launched through an ICO in September 2017 at 1/3 of the current price on the Ethereum platform and since then it has gained great popularity recently when its logo was shown on the S10 wallet.
For now, there are circulating a little more than 50% of their proposed tokens and the project has a solid team and a roadmap fully complying that could trigger greater use cases and better prices in the future.
For now, the community is in the process of electing its representatives who will be responsible for ensuring the development and sustainability of the project.
— icon.community (@iconcm) May 15, 2019
ICON’s price is $0.36 ICX/USD exchange rate today. The real-time ICX market cap of $332.73 Million currently ranks #109 with , daily trading volume of $4.15 Million and live coin value change of ICX 0.08 in the last 24 hours.
Live ICON (ICX) Price:
1 ICX/USD =$0.3619 change ~ 0.08%
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