ICON Network Price Prediction – Will ICX Price Hit $5 Soon?

This ICON Network (ICX) Price Prediction 2022 article is based on technical analysis alone. Below, you will see the key metrics that we have taken into consideration upon coming up with our ICX price analysis and prediction.

There are various cryptocurrencies that rose to a new all-time during this 2021 bull run. In contrast, some crypto assets also faced a price drop. As a result, many digital currency traders are worried about whether it is time to hold or sell their digital assets. This is not the same situation that crypto traders experienced in ICX which retained its all-time high value of $12.64 that it attained o January 9^th, 2018 according to CoinMarketCap.

Nevertheless, the cryptocurrency market is consolidating recently, and many cryptocurrencies are losing their previous profits. Will ICX experience the same price volatility? We’ll find out shortly in this ICON Network (ICX) price prediction 2022 article. But first, let’s have a look at what ICX is.

What is ICON Network (ICX) ?

ICON Network focuses on several different use cases to advance its declared goal of hyperconnectivity in South Korea. One is decentralized identity through Zzeung, an identity authentication, and management solution. The company obtained an exclusive license from the Financial Services Commission in South Korea to provide decentralized identity services to enterprise customers in South Korea. Companies can securely store their users’ authentication information and provide facial recognition services for opening financial accounts. Data is secured through the ICON Network. Another example of decentralized identity services is Zzeung’s use for COVID-19 contact tracing.

ICON also provides digital certificate issuance, storage, and verification services to South Korean universities issuing diplomas and qualification certificates. Moreover, Korea’s largest online job search platform certifies applicants’ academic and professional credentials through a digital certificate management solution secured by ICON.

ICON also has a thriving DeFi and NFT ecosystem connected to the Ethereum Network through Orbit Bridge, allowing Ethereum based tokens to be transferred to ICON. In contrast to most DeFi products, those on ICON are heavily focused on the user experience. Examples include Balanced Network, a DeFi collaboration created to introduce stablecoins to the ICON Network, and Open Money Market, a lending and borrowing platform.

Now that we are clear about ICX do you think ICX will be beneficial crypto in 2022? Join me and let us see the charts in this ICX price analysis and ICX price prediction.

ICON Network (ICX) Current Market Status

As of the time of writing this ICON Network (ICX) price analysis, ICX trades at $0.9622 with a 24-hour trading volume of $776,666,680. The price of ICX has increased by 46.47% in the last 24 hours.

Furthermore, ICX has a current circulating supply of 734,544,741.13 ICX. Currently, some of the top cryptocurrency exchanges for ICX are Binance, Kraken, Bithumb, Huobi Global, and others.

Now, let’s go to the next part of this ICX technical analysis for 2022.

ICON Network (ICX) Price Analysis

Currently, ICOn Network (ICX) holds 107th place on CoinGecko. But will the latest upgrades, development, and changes in the ICON Network help the cryptocurrency price to reach higher? Let’s proceed to the charts in this ICX price prediction article.

Keltner channel is a technical analysis indicator that is used to determine trend directions by measuring the volatility above or below the candlesticks. From the Keltner Channel signals for ICX, it could be seen that the present gain could continue since the last candlestick is had retained the present breakout from the top curve in the Keltner Channel chart above. This shows that the present increase in the price of ICON Network (ICX) is might be sustained for some days before any reversal would be expected.

The Relative Strength Index (RSI) measures the relative momentum in the magnitude of recent price changes so as to deduce oversold or overbought assets. The RSI value of ICON Network (ICX) 1day chart of ICX/USDT is at 46.76.  This shows that ICX is showing a neutral trend since it is between 30 and 50. This value is triggering a bullish run already since it seems that more buyers are repositioning as the value is moving towards the 50 RSI value from the oversold region of RSI value of 30.

The 200-MA and the 100-MA are further apart but the 100-MA is already touching the last candlestick, which means that the price of ICX might plummet soon. However, long-term investors would gain since the 200-MA is above the 100-MA.

ICON Network (ICX) Price Prediction

The chart below shows that ICX has performed great over the past few days. Moreover, the ICX price shows a bullish trend and it has increased by 50.9% in the past 14 days. If this trend continues, ICX might run along with the bulls, overtaking its $1.134 at resistance1 level and moving higher to $2.534 at resistance4 level, the 2022 bullish signal.

Conversely, if the investors turn against the crypto, the bears might take over and push ICX from its uptrend position. In simpler terms, the price of ICX might decrease to almost $0.567, a bearish signal.

Meanwhile, our long-term ICX price prediction 2022 is bullish. It has a very low possibility of surpassing its current all-time-high (ATH) at about $12.64 this year. However, that will only happen if it breaks many previous psychological resistances.

ICON Network (ICX) Price Prediction 2022

If this bullish trend continues, ICX will reach $2.5334 by the end of 2022. Moreover, the first half of 2022 is going to show fast growth, up to $1.359. Then this rise will slow down, but no major falls are expected. With upcoming, partnerships, and developments reaching $4 is quite optimistic in the price point of view but undoubtedly feasible for the near future.

ICON Network (ICX) Price Prediction 2023

If ICX holds an RSI above 50 by the end of 2022, buyers will then have ample time and stability to forge the next attack mission on the vital level at $8 in 2023, making it not plummet but play consistently.

ICON Network (ICX) Price Prediction 2024

If there will be more upgrades and developments in 2024, the ICX price predictions and project forecasts may change. Moreover, these may boost the price of ICX. We can say that the price can still go bullish and spike up to around $15.

ICON Network (ICX) Price Prediction 2025

In the next four years, ICX prices could race up to $25. However, reaching this level could not be so difficult for ICX as additional medium, short-term, and long-term price targets could be found to purchase or sell orders. This indicates that ICX has a high possibility of reaching a new ATH soon in the next five years as per the prediction.

ICON Network (ICX) Price Prediction 2026

By 2026, the price of ICX would reach $50 since many individuals will have better knowledge of cryptocurrencies, therefore, increasing the investment in the industry.

Conclusion

ICX has a bright future ahead of it in 2022. With the ongoing developments happening within the ICON Network ecosystem, as well as in the overall crypto market, we may see ICX reach new heights. Bullish ICX price prediction 2022 is $2.534.

As said above, it may even reach $4 if investors have decided that Nexo is a good investment in 2022, along with mainstream cryptocurrencies like Bitcoin and Ethereum.

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Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.