Ice Network Upgrades Could Save ICE Coin From 20% Drop

Ice Network Upgrades
Ice Network Upgrades Could Save ICE Coin

NOIDA (CoinChapter.com)— Ice Network is another mobile-based crypto mining platform. Similar to its distinct cousin, Pi Network, the project has experienced delays in its mainnet launch.

However, the team now claims Ice Network could be looking towards a mainnet launch set for Oct. 2024. It remains to see if the project really launches its open mainnet on the promised date or users end up with multiple delays akin to Pi Network.

Yet, the project has made some real-world developments instead of pursuing ridiculous and delusional shilling campaigns.

Ice Network Bonds With Telegram

The focus of Ice Network has shifted towards mainnet development. The team has halted mining activities to allocate resources more efficiently towards building a robust mainnet.

Moreover, the team has scheduled the mainnet launch for Oct. 7, 2024, better than Pi Network’s deadline of sometime in June. To be eligible for ICE coin distribution, users must pass a quiz, add their BNB Smart Chain address, and remain active in the app.

Ice Network
ICE Network has integrated with Telegram.

Ice Network’s integration with Telegram has proven to be a vital tool for community engagement. The network maintains an active channel that shares real-time updates, facilitates discussions, and hosts AMA sessions.

The platform lets users stay informed about the latest developments, participate in community events, and engage directly with the development team​.

Several crypto exchanges, including HTX (formerly Huobi), Tokero, and Biconomy, have listed the ICE token. The listings increase the cryptocurrency’s accessibility and provide more trading options for users.

Additionally, the network plans to launch its testnet, including the Ice Open Network (ION) wallet and explorer, and the Frostbyte app, an essential component of the IceNet ecosystem.

ICE Price Moving Inside Bearish Pattern

Meanwhile, the Ice Network coin price has formed a bearish technical pattern called the ‘descending triangle.

Market analysts predominantly consider the descending triangle a bearish continuation signal. Moreover, the pattern features a downward-sloping upper trendline and declining resistance levels that progressively lower the price action’s peaks.

Ice Network
ICE price formed a bearish setup with a 20% downside target. Source: Tradingview.com

Additionally, a horizontal lower trendline acts as support, maintaining a consistent low point that the price struggles to breach. The formation indicates that selling pressure is gradually increasing. Therefore, bearish pressure could overcome buying interest, as each rally is weaker than the last.

The height of the triangle’s thickest section determines the price target in a descending triangle setup. Hence, if the bearish pattern pans out, Ice Network price could drop over 20% to reach the pattern’s projected price target near $0.0037.

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