For the most part of this month, the crypto market has been consolidating. Bitcoin is yet to make any significant gains, and it is still hovering at around $50K. However, some analysts believe this could be the altcoin season because some altcoins are still making double-digit gains despite the broader market rescinding. ICON is trading at $1.84 at the time of writing after an 18% gain in 24 hours.
ICON price analysis
ICON can be classified as one of the best gainers this month. Looking at ICX’s price movement for the better part of the month, the altcoin has been on a steady uptrend, and despite the market recession, the buying support has remained strong.
At the beginning of December, ICX was trading at around $1.10. The majority of the gains have been experienced over the past two weeks. The two-week gains for the token stand at around 67%.
While these gains look massive, the altcoin has yet to reach the all-time high last recorded in 2018. Such highs will take time before they are achieved. Nevertheless, joint support from both buyers and the entire market could trigger such gains from being achieved again.
On the downside, there could also be a trend reversal. The uptrend could reach exhaustion, given that it has persisted for the most part of this month. A trend reversal will push the token towards lows of $1.75. Strong bearish momentum from the market could also lead to lows of $1.50.
ICX is the native token for the ICON blockchain. The blockchain seeks to bring interoperability in the space. It allows independent blockchains to interact with each other, which bolsters efficiency. The objective of the company is to create an interconnected blockchain network.
Where to buy ICX
To buy ICX during the current uptrend, you can open an account on the following platforms:
- eToro
eToro is one of the leading platforms to buy a wide range of cryptocurrencies and trading pairs. eToro supports various user-friendly features such as copy trading that are convenient for new traders. Trading fees on eToro are also competitive.
- OKEx
You can buy ICX from OKEx. OKEx is one of the largest exchange platforms. It supports a wide range of cryptocurrencies. The exchange also boasts of a user-friendly interface that makes it easy for traders to use the platform.
Your capital is at risk.
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