ICON’s ICX Price Prediction $10, $14 and $20

ICON, a popular South Korean Blockchain is gaining popularity. Its coin ICX is forming a bottom and as per many predictions the price could rise towards $8, $10, $14 and $20 in the medium to long term.

There were many announcements by the ICON foundation recently such as MOU between theloop & AD4th to support digital marketing for blockchain business, and ICONex, which is ICON’s Wallet supporting ICX and various cryptocurrencies.

Today, the foundation announced that ICON and AD4th co-founded “Deblock”. It is a blockchain accelerator to discover, invest and support blockchain projects, the company tweeted today.

The Global Economy Times in South Korea reported the story and mentioned that the domestic block chain, announced on 19th an accelerator (start-up support group) Deblock to activate the block chain ecosystem. Also, the report stated that Deblock will support 300 start-ups over the next three years through various partnerships and will form a team with strong executive and understanding of the block chain.

These events could help ICX price and it could continue to move higher. After the Mainnet launch, the price is slowly gaining traction. It seems like the South Korean blockchain has a huge potential to do well in the medium term.

It was also one of the best performing cryptocurrency recently along with others like EOS, STEEM, ETH, BTC, XRP and others. Let’s study the current price action and the possible ICX price prediction for the next few months.

As we all know, there was a major downside correction in the cryptocurrency market, and almost all coins dropped. Bitcoin price fell from well above $18,000 to near $6,000, Ethereum price declined towards $350 and ripple price declined close to the $0.40 level.

However, the market is recovering now, and so as ICON’s ICX. Looking at the daily chart of ICX/USDT (data feed from Binance), the price is forming a decent support above the $2.00 level. In January 2018, its price moved above the $10.00 level and traded as high as $13.24 before starting a major downside correction.

It tested the $1.50 level and the market cap moved down to well below $1B (as per coinmarketcap). A recovery is underway and with the announcements coming in from the ICON foundation, ICX price may continue to move higher.

An initial resistance is near the $4.20 level, a bearish trend line on the daily chart, and the 23.6% Fib retracement level of the last drop from the $13.24 high to $1.50 low. Once there is a break above the $4.20 and $5.00 level, the price could resume its uptrend towards $10.00.

Above the mentioned $10.00 barrier, the price could even break the $13.24 high for a new high towards the $20.00 level. On the downside supports are at $2.50, $2.00 and $1.50.