- ICX token price forms a morning star candlestick pattern to rise higher inside the bullish channel.
- The intraday trading volume is significantly higher than the 20-days MA of volume, projecting a rise in underlying bullishness.
- The ICX/BTC is trading at 0.00003966 BTC, facing an intraday gain of +15.03%.
After finding support at the $1.25 mark, ICX token prices are moving higher with the formation of a morning star candlestick pattern with a lower price rejection Doji and a bullish engulfing candlestick projecting the rise in underlying bullishness.
The ICX price has found support from the 200-day Exponential Moving Average while others are rising in the 24-hour technical chart with a positive slope and bullish alignment.
The ICX Token’s current price is $1.80, increasing +10.82% in market cap in the last 24 hours, suggesting a slight fall in the underlying bullishness.
The intraday trading volume of the ICX token has risen 350% in the last 24 hours, projecting a boom in the number of ICX token buyers as the overall trend is bullish.
ICX Token Price Retests Bullish Breakout Of Rising Channel
After the bullish breakout of the rising channel, the ICX token price retests the resistance trendline of the channel in the 4-hour technical chart. As a result, investors with a bullish outlook for ICON may find this retest a low-risk entry with an affordable risk to reward ratio.
The ICX coin price trades above all the EMAs of the 4-hour technical chart, increasing in a bullish alignment.
Price action suggests that the coin could soon face resistance at $2 and $2.5. However, the ICX Token has the support of $1.40 and $1.
RSI indicates a rise in underlying bullishness. The RSI line rises towards the overbought area and then spikes out of neutral.
The ADX is symbolic of a growing trend since the ADX line is moving higher.
Conclusion: After retesting the bullish breakout of the rising channel, ICX’s price may shortly observe an impressive growth. Investors with a bullish outlook for ICON may find this retest a low-risk entry with an affordable risk to reward ratio.
Support- $1.40 and $1
Resistance- $2 and $2.5