ICXUSD trade ideas
$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 :)
Real ICONic mirrorIn ICONโs 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 letโs see.
Trade safe and take care
Cheers
Whoop
ICON - ICX projected resistance levels if bullish continuation- 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...
ICX in to the next range ! Global perspective:
after a nice accumilation zone Icon is building up now for a next range.
You could have like 5 short options last range and the same amount of long entry's.
If the new range settles, my goal is to take these entry's
It broke out of the 1,73 to 2,11 dollar range.
If it withstand the backtest of the 2,11 level, the new range is between 2,11 and 2,8 dollar.
ICXUSD Break Out Trading LevelsThese are just my ideas on how I will trade ICX. I did Fib retrace from previous High to low and fib extension from recent low to high. There are levels of confluence at retrace .5 and .236. A lot of this depends on how BTC will be trading, but I am super optimistic on this coin. It has great bones and lots of potential. Please do your own TA and this is not trading advice. Let me know your thoughts on my ideas. I am learning and criticism is how we get better.
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ICX Next stop $4!!!ICX is consolidating nicely. We have a nice flag pole with a bullish pennant forming. Next PRICE to hit will be $4 for icon.
Fundamentally everything about this project is set to explode. The staking rewards are amazing roughly 13%. You can stake on binance, iconfi, bithumb, and coinbase is definitely next!
Icon 2.0 is due for release soon. The amount of patnerships this company has is amazing. You have a couple defi projects releasing in the next two quaters, Balanced, OMM. There is also The Stakin Lossless Lottery which is focussed on betting the interests from staking instead of the principal. It is a global and borderless initiative making staking ICX a fun and potentially very rewarding experience.You can not look past this project fundamentally.
Icon getting ready for a big move.ICX has been one of my favourites for some time because of the high staking rewards, but add to that the interesting price action and we have a great investment. I am of the opinion that we could see a rise towards $6-$7+ once we have a daily close above the resistance.
ICX Price May Bounceback to $1.93ICX price traded at $1.94 with a gain of 17.38% in the last 24-hour and 0.14% down in the weekly time-frame. In contrast, the market capitalization stands at $1.154 billion. Technically, investors may perceive a negative crossover in SMA. Moreover, the movement of price can be towards the resistance of $1.99 after a pullback from $1.65.
Resistance: $1.99
Support: $1.65
Which way will ICX go ???Okay so if we break up i see this going to 3.7$ there is a level here of resistance so expect a reaction then obviously we have the 5$ resistance also.
If we fall down from triangle i see this returning to curve over the next few weeks to months, then a huge reaction pump from potential lower prices.
BOTH look bullish for ICX in my opinion tho. Lets see what happens :)
ICX - Cup and Handle after Inverse A/E? 400%+?!๐๐ICX 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.