BTC$23 363.14


ETH$1 868.52




USD Coin


Binance Coin




ICON (ICX): the Uncertain Future After Immense Gains

March 2020

When it comes to the most prominent profit providers among altcoins, there are only two cryptocurrencies that did a better job than ICON (ICX) in a span of 30 days, namely Lisk and WAX - both gained 142% over the said period, while the value of ICX increased by 120%.

Right now, ICON occupies the 43rd position in global ranks, enjoying a soaring market capitalization, which has been experiencing a massive boost in mid-January that allowed it to rise sharply, from $60 million to a more impressive $254 million at the interim peak of the current bull rally. Presently, the market cap of ICX amounts to $173 million. The trading volume, however, has been visibly degrading since early February, going down from $439 million across all cryptocurrency exchanges to a measly $38,6 million at the time of writing.

The price action of ICON with the same time interval has been following the trading volume fluctuations to the letter by going in a retracement on exactly the same date when the volume began plummeting.

Daily ICON/USDT chart

ICX’s trading volume by day

Given that the volume continues to fall - from $76 million to $38 million in the last five days - we can presume a substantial possibility of the price moving further down south on the daily. This notion is supported by the following factors:

ICX is yet to establish a concrete higher low from which it could potentially bounce back to the upside, so as long as it stays above $0.25, there are not many reasons to panic, unless, of course, you haven’t bought this coin at the top of its upswing;
The price has breached the bullish flag formation to the downside at $0.38, which usually serves as a sign of further decline unless it manages to recover above $0.4 in a matter of three-to-four days.
The MACD indicator shows the signal-line bearish crossover as the MACD line has crossed the signal one for top downward, with histogram confirming both lines moving further away from each other, which implies that the price movement is about to accelerate in the direction of the crossover.

Therefore, traders who prefer capitalizing on price swing on daily charts shouldn’t rush into the ICX/USDT market and give it a chance to show its true intentions, of which there were no clear indications as of yet. The most practical thing to do now with regard to ICON is to monitor the price and look for any distinctive pattern to emerge.

The situation on larger time frames

The weekly chart shows that traders should have anticipated a strong push back by the bears because on February 4, ICX reached an immensely important resistance level at $0.44, which marked the formation of the double top reversal pattern back in April and May of 2018, the last of which had put the dagger in the ICON’s minor bullish trend.

ICON/USDT weekly chart

This brings us to an even more critical strategic aspect of ICON trading than the depth of its current retracement. Once the price bounces back above, thus present a chance to profit on the upswing, and tests the said resistance again, start following this coin closely: if it breaches the level successfully, it could move swiftly to $0.73. Otherwise, we would see the formation of another double top reversal.

Author: Alex Paulson for


ICON (ICX) Is Being Dragged to the Downside
ICON (ICX) Is Being Dragged to the Downside
ICON (ICX) Displays Modest But Steady Gains
ICON (ICX) Displays Modest But Steady Gains
ICON (ICX) Is In a Steady-Going Mode
ICON (ICX) Is In a Steady-Going Mode
ICON Has a Strong Upside Potential
ICON Has a Strong Upside Potential

Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 90.4% 11 $23 363.14 -0.03% -2.65% $446 823 684 066 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 70.8% 57 $1 868.52 1.92% -0.51% $227 993 947 896 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 92.8% 1 $0.999977 -0.01% -0.04% $67 547 880 122 USDT 7 days price change
4 USD Coin (USDC) USDC USD Coin predictions 91.2% 1 $0.999951 0.01% 0.01% $52 853 692 355 USDC 7 days price change
5 Binance Coin (BNB) BNB Binance Coin predictions 67.6% 63 $303.33 -1.00% -6.38% $48 938 685 508 BNB 7 days price change
6 XRP (XRP) XRP XRP predictions 88.4% 10 $0.378717 0.24% -0.28% $18 700 123 577 XRP 7 days price change
7 Binance USD (BUSD) BUSD Binance USD predictions 95.6% 1 $0.999950 0.02% 0.01% $18 538 747 093 BUSD 7 days price change
8 Cardano (ADA) ADA Cardano predictions 82% 27 $0.528389 -1.39% -0.64% $17 930 371 507 ADA 7 days price change
9 Solana (SOL) SOL Solana predictions 79.6% 35 $40.86 0.98% -4.45% $14 252 057 103 SOL 7 days price change
10 Dogecoin (DOGE) DOGE Dogecoin predictions 83.6% 28 $0.077619 -3.50% 9.27% $10 297 802 123 DOGE 7 days price change
11 Lido stETH (STETH) STETH Lido stETH predictions 90.8% 1 $2 941.39 -0.40% -3.32% $10 258 752 564 STETH 7 days price change
12 HEX (HEX) HEX HEX predictions 67.6% 66 $0.055681 -5.02% -9.31% $9 655 716 850 HEX 7 days price change
13 Polkadot (DOT) DOT Polkadot predictions 69.6% 55 $8.39 -0.08% -8.83% $9 297 483 290 DOT 7 days price change
14 SHIBA INU (SHIB) SHIB SHIBA INU predictions 74.4% 43 $0.000014 -4.14% 15.33% $7 806 235 316 SHIB 7 days price change
15 Polygon (MATIC) MATIC Polygon predictions 82% 24 $0.893855 1.02% -2.98% $7 188 492 292 MATIC 7 days price change

Be the first to receive Cryptocurrency Price Predictions and Forecasts daily

Get cryptocurrency price predictions, forecasts with analysis and news right to your inbox.

© 2015-2022

The usage of this website constitutes acceptance of the following legal information. Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website, including information about the cryptocurrencies and bitcoin is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Crypto Rating shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about cryptocurrencies. The entire responsibility for the contents rests with the authors. Reprint of the materials is available only with the permission of the editorial staff.