I plan to do my analysis on coins that are on my private watchlist. Iconomi is an exception as it was a request from a friend :)
About 3 weeks ago Iconomi broke the upward supportline, to get caught in a downward channel. There seems to be horizontal support around the 63 level.
The upperband of the downward channel and the horizontal support cross in about 2 weeks. This should decide the direction for the near future. If it breaks expect a further drop, if not my guess is a more sideways movement for now also considering the neutral RSI.
About 3 weeks ago Iconomi broke the upward supportline, to get caught in a downward channel. There seems to be horizontal support around the 63 level.
The upperband of the downward channel and the horizontal support cross in about 2 weeks. This should decide the direction for the near future. If it breaks expect a further drop, if not my guess is a more sideways movement for now also considering the neutral RSI.
Comment:
Iconomi broke the horizontal supportline and almost fell to the bottom of the channel, but quickly recovered to backtest the broken supportline. The backtest seems to have been completed and more downside is very likely.
Comment:
It's going down: Timber!
youtu.be/hHUbLv4ThOo
youtu.be/hHUbLv4ThOo
Trade closed: target reached:
Might be some horizontal support in current region