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.
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!
Just Moon boy hopium. I'm thinking bitcoin tops out in the next 2-4 months. Afterwards I expect Alts to Accelerate to pluto. This is an updated version of my previous icx long term fractal, not meant to be exact.
ICX has been on a tear lately with the recent jump ETH had.
We broke above $2.00 recently for the Wave 3 and I believe that we are accumulating for a potential Wave 5.
First target is at the 1.272 extension @ $3.00 and second target is at the 1.618 @ $3.68
Link to my previous idea below.
ICX on USD charts is looking very interesting.
Seeing basically a very bullish version of an inverse A/E into a cup and handle; this pattern seems duplicated on various other charts which have already broken out recently.
Very bullish indicators and the lack of substantial retrace as it holds this relatively high level likely signals we're heading upwards from here soon.
Based on the idea that ethereum could hit a price point of $9,000 - $12,000. If the icx/eth ratio gets to similar levels as the last crypto market cycle, then I think icx could hit a price level of $100+ on a spike.
In ICON’s weekly price action the downward pattern from Jan 2018 to Jan 2020 is repeated as a mirror image when climbing back up. If that pattern still continues to play out next would be a fairly swift increase to around 4.5. It will be interesting to watch how things unfold. ICON is showing clear bullish signs, so let’s see.
Trade safe and take care
- Using HITBTC chart for data history only, prices will vary slightly on other exchanges (Binance currently has highest trading volume for ICX)
- The FIB extensions are based on weekly closes
- currently an ascending triangle on the daily
- Good luck to all whatever your positions may be, Trade safe try not to Gamble...