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Cryptoknowmics 2022-04-30 07:15:46

ICX Technical Analysis: Bears Prepare Downfall Under $0.65

ICX coin price shows a rejection from the 50-day EMA resulting in downfall to the $0.65 mark. Will sellers break under the support level? Key technical points: ICX prices approach the $0.65 mark. However, the coin price fails to surpass the 50-day EMA. The 24-hour trading volume of Icon is $15.35 Million, reflecting a fall of 2%. Past Performance of ICX ICX prices experienced a rise in selling pressure as the consolidation range fallout rally created multiple bearish candles to bring the trend below $0.65. Hence, the difference started from the rejection at the 200-day EMA. Source-Tradingview ICX Technical Analysis The ICX price action shows a bearish candle of 5.65% breaking the daily support of $0.68, reflecting a bearish overtake. Hence, the possibility of the bearish trend breaching the $0.65 level increases significantly. With the bearish continuation in the falling daily EMAs, the possibility of the price of a bullish reversal diminishes. Hence, the EMAs play the dynamic resistance role. MACD indicator: The MACD and signal lines continue the downtrend after avoiding a bullish crossover. Moreover, the bearish histograms regain momentum, indicating growth in selling pressure. RSI Indicator: The RSI slope shows a bearish continuation below the halfway line reflecting growth in underlying bearishness. Moreover, the downtrend in the 14-day SMA remains in the nearly oversold zone, reflecting lower chances of bullish recovery. ...

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