ICON failed to stay in "TOP-15 marketcap" projects due to long correction and has been already "buried" by "ICON-killers" or "ICONs 2.0". We saw a lot of projects aiming to become the main blockchain in Korea, but no one (Fantom, Yggdrash, Hycon, Aergo, etc) succeeded in this mission.
In my opinion, the project is alive and the price is the main evidence. After a tough correction, it managed to raise from 540 to almost 1000 sats with a high volume and now is staying above the 0.5 fib retracement area.
On the daily tf I see some kind of re-accumulation (you can name it flat-correction or flag) and anticipate the markup. Daily Bollinger is compressing which is a good sign. On a weekly tf, the picture is even better: there're 4 weekly candles with long wicks on both sides consolidating above the Weekly MA20. And the Bands are compressing, the price is preparing for the break.
Targets: On to the weekly chart the main resistance is on 1350s satoshis area and no resistance till 2500 sats.
In my opinion, the project is alive and the price is the main evidence. After a tough correction, it managed to raise from 540 to almost 1000 sats with a high volume and now is staying above the 0.5 fib retracement area.
On the daily tf I see some kind of re-accumulation (you can name it flat-correction or flag) and anticipate the markup. Daily Bollinger is compressing which is a good sign. On a weekly tf, the picture is even better: there're 4 weekly candles with long wicks on both sides consolidating above the Weekly MA20. And the Bands are compressing, the price is preparing for the break.
Targets: On to the weekly chart the main resistance is on 1350s satoshis area and no resistance till 2500 sats.
Comment:
Nice bounce from the support area laying besides 0.618 fib and OB. Also, the 4h hummer with the increased sell volume conforming the bull power in this zone.
