Currently at the top of the 3day ema ribbon, the top of the weekly ema ribbon, and right under the log growth curve. As you can see, ICX has used each of these indicators as support/resistance multiple times. ICX/USD looks like it's either about to rocket up or get sent back down to the gulags. Either way, big move coming, personally I'm bullish but cautious.
Major resistance and support levels:
On the weekly time frame chart, we have three major support and resistance levels. While moving towards the upside the price line faced strong resistance at $2.30 and after being rejected made another attempt and broke out this resistance. Then finally after finding very strong resistance at $3, the price action dropped down...
ICXUSDT is looking pretty weak, failing to get close to the ATH of 2018 of $10.28 during this bull run, with only reaching a 1/4 of that at $2.68.
With so many of the old guard of 2018, reaching and surpassing their ATH's of the previous bull run, this is a pretty clear sign of weakness.
Now that the bull run is looking pretty dead, there are no chances of even...
In a world of competing chains, the only way we see rapid growth with ICX and break this current trajectory (given the overall crypto macro landscape remains net bullish, and alt coins are in fashion), this would be the rough path to the previous ATH and new ATH with a rough fractal.
Sometimes you've just got to zoom out a bit and sit on your hands.
ICX is currently breaking above resistance area. I bought at market few moments earlier, may be a good idea to get in!
RSI gave a buy signal.
EMA's gave a buy signal.
TP at $3 area, about 10% profit.
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Sadly, too many moonboys in the space who have no idea how market cap works as a function of price. Especially when the supply of a token has since inflated dramatically since the ICO / mania / hype / listing phase.
Yes the overall market is growing in market cap - however there are also many more projects competing for said market cap, so it's all relative.
ICX is another coin on our golden long-term list. We are bullish on ICON, it is very good coin. You can stake it (for example on atomic wallet) for huge profit. It is one of the best coin to staking!
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A zoomed in view of the icx fractal that I made a while back. The overall target for the giant cup and handle that icx is potentially forming over the past 3 years has an overall target of roughly $200. Don't hold me to this prediction, but I think it's worth having a bag if it happens. I'm GIGA BULLISH on all altcoins right now!
Very simple chart to show a market premise...
Needs a daily close and some form of follow through. I'm wary of false breaks at this point due to BTC potential volatility into the weekend.
Be careful out there.
Bullish continuation pattern formed on the daily chart, looks like a breakout to the upside is imminent for $ICX .. Upside target before entering resistance zone would be $3.80-$4.00 range with profit taking along the way ($2.70-$2.80).