ICX support on 200 hour EMA, resistance on 400 hour EMA
Updated
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
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
Note
BTC broke through up from tightening consolidation with BTC. Still need to break 400 hour EMA. Strong bullish move
Note
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
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