ICE Likely to Achieve a $1 Gain by Next Month

Ice Token (ICE) price action shows that volatility is growing. The price action is more actionable regarding movements after a prolonged consolidation. The token is up 125% after jumping off from the $0.5678 support floor. The current price is $0.6133.

Its all-time high stands at $1.7808 and could be breached soon amid growing bullish momentum. Notably, the token has also broken out from a confining technical formation. Over the last hour, Ice Token price has increased by around 16%, which points to increased buying activity.

#Gateio

⬆️ Price Increase 1h$BS ▴27% #BS$ICE ▴16% #ICE$TRAC ▴15% #TRAC$WEMIX ▴11% #WEMIX$AIBB ▴10% #AIBB

⬆️ Volume Increase 1h$WEMIX ▴75% #WEMIX$AXS ▴67% #AXS$OXT ▴39% #OXT$BS ▴37% #BS$SXP ▴37% #SXP#crypto pic.twitter.com/r7D93qNgXy

— Crypto Tracker (@CryptoTrackify) September 20, 2023

Ice Token Price Forecast Amid Increasing Volatility And Growing Buyer Momentum

The four-hour chart below for the ICE/USD trading pair indicates a positive outlook. With technical indicators tipping the odds further in favor of the upside than the downside, ICE could rise. For starters, the Parabolic SAR, an indicator used to determine the directional bias of an asset, is providing support to IceToken price at $0.7976.

Other indicators supporting Ice Token price include the 9-day Exponential Moving Average (EMA) at $1.2167 and its associated Smoothed MA at $0.9255. These moving averages are tracking ICE from below. This shows that the north is the path with the least resistance.

Looking at the Relative Strength Index (RSI) trajectory, momentum is rising, which increases the chances of continued ascension. The Moving Average Convergence Divergence (MACD) indicator, along with its histogram bars, mirrors the trajectory of the RSI and shows a positive reading above the midline. This is bullish, indicating more buyers are approaching the ICE market.

Evidence of all this is indicated in Ice Token price breaking out from a bullish chart pattern, the ascending parallel channel. This shows that the bullishness in the market is beyond the confines of the technical formation, steered by growing momentum. If bulls can maintain the same gusto while keeping their profit appetite in check, the rally could continue for ICE.

Conversely…

Early profit-taking has always been the biggest threat to an asset’s upside potential. Low market cap tokens have proven susceptible to this challenge in the past. If sellers pull the trigger and seller momentum overpowers the bulls’ buying pressure, Ice Token price could fall.

A move south could plunge ICE back into the ascending channel, with likely targets being the midline of the pattern at $1.2167 or the lower boundary at around $1.0000. These levels are vital as they coincide with the 9-day EMA and its associated Smoothed MA.

Nevertheless, the bullish outlook would only be invalidated upon a decisive break and close below the support floor at $0.5678. Such a move would constitute a 65% slump from current levels.

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Promising Alternative To ICE

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