ICX Technical Analysis: FIB Retracement Shows that the Price Is Currently Being Tested at the Pivot at $2.51
Let us look at the technical analysis of ICON.
Past Performance
For the last four months, the price chart of ICX coin is on an uptrend. Although few occasional drops were seen, there has been an overall increase of 261.5% in price during this period.
In the week, the ICX price witnessed a change of 15.34%. It opened at $2.15 on November 9, 2021, and closed at $2.48 on November 15, 2021. 
ICX Technical Analysis
Since the past week, the price chart is on an uptrend, giving positive momentum to the price. However, today the price is neither showing a significant increase nor a decrease. Thus, the price may remain stable today. The current trading price of the ICX coin is $2.459, which is 0.97% less than yesterday’s close.
The OBV indicator is showing that the bears are taking control of the market today, as a dip can be seen at the end of the graph. The intraday traders may leverage this opportunity.
The RSI is showing a flat line today at the end of its graph, meaning that the price is likely to remain stable for the rest of the day. This is a signal that the traders may hold their current positions.
The MACD graph is confirming the previous week’s uptrend as a bullish crossover can be seen. Moreover, the height of the histogram has been increasing constantly.
Day-Ahead and Tomorrow
In the news, ICON 2.0 is finally here, bringing a new blockchain architecture specifically designed for DeFi applications and cross-chain interoperability. The ICON logo and website have been completely redesigned just in time for the greatly anticipated 2.0 upgrade. One of the most important changes ICON 2.0 has brought is an expansion of compatible programming languages.
With the advancements and upgrades on the ICX ecosystem, the performance of ICX may continue to rise, reaching $5.25 very soon. But, it might also reach $7 if the investors believe that ICX is a good investment in 2021.
For the short-term, the indicators are suggesting that the traders may hold their current positions and wait for the price to show a significant deviation today or tomorrow. However, for the upcoming days, the traders may keep a target of $2.716, while keeping a stop-loss at $2.266.
The Fib retracement shows that the price is currently being tested at the pivot at $2.51. Crossing this level, the price will be tested next at $2.87.