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Icx

ICXUSDT (ICON) - BULLISH SETUP ANALYSIS 🔎 - ICXUSDT brokeout above the pennant pattern's inclined resistance as expected from my previous analysis. - The market hit a swing high and retraced. - Price is retesting the pennant pattern's inclined resistance, horizontal support level (S1) and the key fibonacci retracement zone (0.5 - 0.618 - 0.786). - There's a relatively high concentration of buyers at this zone. - The retracement was resisted by the descending trendline resistance (DTR). - Price brokeout above the descending trendline resistance. - This is a bullish signal. - There's a potential formation of the bullish inverse head and shoulders (IH&S) pattern. BUY ENTRY ⬆️ - Aggressive entry : current market price (CMP). - Conservative entry : If the inverse head and shoulders pattern is formed, a breakout above the inverse head and shoulders neckline resistance (NR) could be a bullish signal (entry). TARGETS 🎯 - Horizontal resistance level (R1). - Fibonacci extension levels. SETUP INVALIDATION ❌ - Initial invalidation : breakdown below the head's horizontal support level (S1). - Final invalidation : breakdown below the 0.786 fibonacci retracement level.
Long
by Chibuike_Odoh
$ICX - A realistic projectionSadly, 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. Do I think we see ATH this bullseason? Totally. Do I think it happens tomorrow this month ? Unlikely. I do see a pattern that I have laid out, following along the linear regression channel, with a rough elliot wave projection towards 4.50-4.80 area, with support areas shown. The RSI is showing high lowers but lower highs, which may mean momentum is slowing. Either some large fundamental news needs to come for ICX to get an unnaturally large pump in the price (like a coinbase listing for example), or we will likely see quite boring price action here. Then again, there's always the possibility of irrational mania at some point and this could moon sooner, but as always, the easier it comes, the easier it goes, so stay prepared :)
BINANCE:ICXUSDLong
by TheTraderAndy
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