ICX is fairing well among alts. It is currently forming a tightening pattern after temporary breaking above the 400 hour EMA. The 200 hour EMA is acting as support and the RSI shows a bullish divergence. We are also testing the upper trendline of the non-log channel.
-------------Fundamentals
release of ICON IISS/SCORE ICONex DEX will launch with ICX/ETH pair available on mobile and desktop Korea discussing ICO legalization, and has set budget for blockchain development/ education
-------------The Call
A break above the 400 hour EMA & trend line is a buy A break below the 200 hour EMA is a sell
RSI favors bull break but BTC will have to lead the way.
-------------Whats happening with BTC?
With BTC shorts:long at an all time high and a potential short squeeze, as well as an upcoming ETF decision expected in the next few days the market will be very volatile.
------------ Not financial advise
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BTC broke through up from tightening consolidation with BTC. Still need to break 400 hour EMA. Strong bullish move
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ICX was unable to break above the 400 hour EMA and has broken down with volume.
Levels to watch are 8550 sats 8000 sats break of 7750 sats indicates more downside