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Icon is up about 5% in the past 24 hours on a 66% increase in trading volume to $2.9 million.
ICX’s gains coincide with heightened confidence from crypto investors amid a buoyant market yesterday that was triggered by Grayscale’s landmark legal win. Bitcoin led the recovery with a 5.5% gain in 24 hours.
Despite recent gains, ICX is still down 22% over the past month.
$ICX has been on a downtrend against #BTC for almost 6 years now. 🧐
The resistance line has been slightly breached a couple of times, but price quickly fell back into the falling wedge.
IMO if this downtrend breaks to the upside all hell will break lose! 🔥#Crypto #Xcall pic.twitter.com/628ow8AgZ3
— Marc ⚡️ 10X (@marcfcee) August 30, 2023
Icon Bounces To $0.17
In the last 24 hours, ICX’s price has traded between $0.163 and $0.178 amid mild volatility.
The recent uptrend has not returned ICX to the price it was trading at earlier this month. In early August, ICX held levels around $0.21. By August 18, the price had plunged to $0.16, a monthly low.
The recent ICX price action has seen the token return to June lows. If the price fails to hold levels above $0.16, ICX will create a three-month low.
Icon Shows A Bearish Trend Despite Recent Gains
ICX is trading below the 50-day Simple Moving Average, indicating a bearish trend.
The token appears to have found support at the current price of $0.17. Failure to hold this support could see ICX dropping to $0.15.
The resistance level is $0.20, as seen in the 50-day SMA. Buyers need to accumulate at the current prices for gains past $0.20 to be seen.
The Moving Average Convergence Divergence (MACD) line is in the negative zone, making a case for the bears. The MACD histograms are in the green zone, indicating a bullish momentum.
The Awesome Oscillator is in the negative zone but is green, indicating a tussle between bulls and bears.
yPredict Presale Garners Huge Interest
yPredict, one of the most popular presales in the crypto market today, is garnering much interest. yPredict is an innovative crypto trading research and analysis platform that gives investors an edge by leveraging the power of artificial intelligence.
The yPredict presale has already raised more than $3.6 million from investors. The YPRED token is being sold at $0.1 at the current presale stage. The price will increase to $0.11 during the next stage of the presale after $4.58 million is raised.
yPredict brings unique offerings to crypto investors. The project leverages artificial intelligence to support decision-making. It also brings together AI and Machine Learning experts, traders, and financial quants, giving them an edge in the market.
The yPredict project taps Natural Language Processing to gauge the sentiment surrounding different tokens.
The other methods adopted by the platform include pattern recognition, sentiment analysis, and charting patterns to help make better trading decisions.
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