- ICX is asserting bullish dominance over the market by staying near to its one-month high price
- The coin has seen an increase of 5.2% in the market value during the intraday session
- The three-month performance of Icon has been up by over 130%
Icon has been climbing up the bullish ladder since last week. Although the cryptocurrency did experience some minor bumps on the climb, that wasn’t enough to stop it from getting new weekly highs. Icon currently ranks 38th on the market, with a market cap of $1.5 billion. There has been tremendous growth in the trading volume by almost 78%.
The ICX/ETH pair comes out to be at 0.000534 ETH, an increment of 6% during the intraday session. The same goes for the ICX/BTC pair with an intraday increment of 4%, valuating at 0.00003698 BTC. Currently, ICX is dominating over 0.06% of the total market and expects to grow further.
The current market value of ICX is trading over the moving average lines. It may indicate the bullish nature of the coin at the moment. The 30MA line carrying the close prices has taken a turn towards the upside of the chart, suggesting the continuation of bulls riding for at least a shorter time. To support the bullish notion, one can observe the occurrence of ‘a cup and handle pattern’ between the green support level drawn on the graph. Moreover, the presence of a bullish three-line strike helps to say that the coin has the potential to stay in a positive continuum.
Oscillators forecast a good time ahead for ICX
After considering some of the oscillators, one can conclude that ICX looks promising. The MACD line, although divergent, is still above the signal line and the zero level. There seems to be no curve pointing downwards at the moment, and that is how the MACD suggests a buying period to the investors. As for the RSI, the coin looks neutral as it got traded in the overbought zone multiple times. Still, the RSI advises a no buy or sell period for at least another month. Resistance can be seen at $2.4649 and $2.7012, while the support levels are $1.8055 and $2.1136.
Conclusion- ICX is less likely to experience a sharp fall again shortly as the coin carries out the movement with bullish force. However, there is no assurance of continued growth as reversals tend to occur without any invitation. We request the investors to conduct thorough research before investing in any asset.
Resistance- $2.4649 and$2.7012
Support- $1.8055 and $2.1136