the ICON price has increasedThe price structure of ICON has been engaged in a fierce battle, with bulls initially dominating the price and holding the upper hand, as the price jumped from $0.1500 to $0.4000. Nevertheless, bears disrupted the market on March 14th, 2024, leading to a loss of momentum for the bulls. Therefore, bears dominated and set new lower lows and highs on the daily chart, which led to the formation of support at $0.2000 price level. Thereafter, the price consolidated at this critical level for a couple of daily sessions.
The latest price indicates a spike from the support base at $0.2000 by April 20th and illustrates a minor pushback from bears, possibly signaling a return of bullish momentum.
Furthermore, the ICON crypto price approaches the primary resistance levels from the 20-day and 50-day EMA's on the daily asset chart. Meanwhile, RSI is at 45.96 and has taken support on 14-SMA, and MACD is at -0.184 with a bullish cross.
At the time of writing, the ICON price has increased by +4.37% since yesterday and was at $0.2606 at press time. If demand for ICX increases, it may rebound remarkably from its present price level. The next target for the price may be to hit $0.3000, and beyond this price level, it could stretch up to $0.3400.
Conversely, if the ICX crypto price asset drops below the $0.2000 threshold support, it may continue to fall and reach lower points in the coming sessions.
