ICX is one of those coins that were predicted a good year of 2018 and so far we have seen a mixed bag of results from its price. The coin lingered in the bear trend alongside the rest of the market, falling all the way down to $1.65 USD. A spike during a mid-March bull run saw this value more than double, with ICX scratching the $4 USD levels at the height of the run. A drop-off was initiated since, seeing the price fall below $2 in early April. April and early May were good months for the coin as the price broke the $4 USD barrier and went all the way up to $4.78. We have seen some sideways movement since, just to have the coin slowly bleed down with the rest of the market to $2.25 USD at the tail end of May. The recent period of stability from Bitcoin allowed ICX to recover a little and rise to $2.80 USD.
Some traders aren’t confident it can keep going and are seeing bearish divergences at the 4h chart. A suggested stop-loss is currently at 3535 satoshis. Still the divergence is just temporary and if anything it allows you to buy back in later at a lower price.
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But why should you buy ICX at all, you may be wondering right now. Well, there are plenty of reasons to do so. ICON has been a longstanding partner of AION and Wanchain in their quest to create an interoperability alliance that will enable cross-platform cooperation between these projects. ICX will be the glue connecting the previous two coins, an ecosystem of interoperability that can potentially be used by other projects in the future as well. This means adoption, adoption means demand and demand means a rise in price.
More notably, ICON is currently being supported by a massive amount of partners. Probably the biggest partnership to date was their announcement that Samsung is about to join the blockchain revolution with the help of the ICON team. A Memorandum of Understanding was signed between these two companies, ensuring that Sams...