ICXUSD trade ideas
ICX Bounce up from the bottom >>>> 0.5$Hello Traders,
The ICX coin is builing reversal pattern at the bottom.
Short term target will be 0.5 $.
Introduction
ICON is an interchain blockchain that connects various blockchaines such as Bitcoin, Ethereum and Qtum.
First, ICX is used as intermediary cryptocurrency. ICX enables transactions among diffrent cryptocurrencies by determining the exchange rate through DEX Reserve.
Second, ICX can be used as for DApp tokens U-coin, which is a DAPP developed by our blockchain team for Korean University Consortium, can be one of these use cases already in development.
Another example- ICX can be a token for ICO platform like erc-20.
: Source from Binance.
$ICX8.22.19
ICX
It appears the bottom is in after 3rd attempt held as support.
Both the 1W/1D have similar S/R ; a few cents difference
Using the daily because it has more data for the EMAs.
Would like to see the red box area turn support.
Would also like to see the 20 EMA act as support.
Sellers were exhausted. Let’s see if Buyers can step in for Higher High.
Not sure if market sentiment is ready for a blue box retest.
Want to see how the 50 EMA behaves.
Icon, I love you so much, why don't you love me?Papertrading: Will buy at 0.19 usd
Does anyone has info on the team? Still together and working hard or enjoying the sun with our money?
ICON Price Analysis ICX / USD: Sisyphean TaskFundamental Analysis
ICON has gained weak bullish momentum after the project announced that its planning to give away 3 million ICX tokens to encourage community to participate in the full node election. ICON is about to launch the first stage of its ICONSENSUS program, where its participants will vote on-chain in the election of full nodes. Pre-voting will commence on August 26.
ICON / USD Short-term price analysis
ICON has a bearish short-term bias, with the ICX / USD pair now trading below its 50-period and 200-period moving averages on the four-hour time frame.
The four-hour time frame shows that the recent bearish short-term dynamic remains in play, with the ICX / USD pair creating lower lows and lower highs.
Technical indicators on the four-hour time frame are attempting to turn bullish, although the signal remains weak.
Pattern Watch
Trading should note that the bearish range break on the daily time frame is weighing on the short-term technicals.
Relative Strength Index
The RSI indicator is attempting to turn bullish on the four-hour time frame, although momentum is weak.
MACD Indicator
The MACD indicator on the four-hour time frame is bullish and continues to issue a buy signal.
ICON / USD Medium-term price analysis
ICON has a bearish medium-term outlook, with the 50-day moving average crossing below the 200-day moving average.
The daily time frame is showing that a huge technical breakout has occurred, with ICX / USD pair moving below a sideways price channel that has been in place since March 2019.
Technical indicators on the daily time frame are bearish and are currently extremely oversold.
ICX / USD Daily Chart by TradingView
Pattern Watch
Traders should watch for a potential double-bottom formation if the ICX / USD pair fails to break below the February 2019 trading low.
Relative Strength Index
The RSI indicator on the daily time frame is bearish and is also extremely oversold.
MACD Indicator
The MACD indicator remains bearish on the daily time frame, although it is currently extremely oversold.
Conclusion
ICON shows few signs of staging a recovery on the four-hour time frame as the ICX / USD pair continues to post bearish lower lows and lower highs.
The breakout from the sideways channel on the daily time frame has prompted heavy technical selling, placing the current emphasis towards the February 2019 trading low.
ICON Price Analysis ICX / USD: Destructive CatalystICON / USD Short-term price analysis
ICON has a bearish short-term bias, with the ICX / USD pair now trading below its 200-period moving average on the four-hour time frame.
The four-hour time frame shows that following the recent technical reversal, bears have now invalidated a bullish inverted head and shoulders pattern.
Technical indicators on the four-hour time frame have turned bearish and continue to generate a sell signal.
Pattern Watch
Traders should note that the bearish invalidation target could see the ICX / USD pair losing a further thirty percent in value.
Relative Strength Index
The RSI indicator has also turned bearish on the four-hour time frame and still shows scope for further downside.
MACD Indicator
The MACD indicator on the four-hour time frame is bearish and continues to issue a sell signal.
ICON / USD Medium-term price analysis
ICON has a bearish medium-term outlook, with the cryptocurrency now trading below its trend-defining 200-day moving average.
The daily time frame is showing that the ICX / USD pair is now attempting to breakout from a sideways price channel that the cryptocurrency has been trapped within since March 2019.
Technical indicators on the daily time frame are bearish and continue to generate a sell signal.
ICX / USD Daily Chart by TradingView
Pattern Watch
Traders should note that a sustained technical breakout from the sideways price channel could see the ICX / USD pair testing towards the February 2019 trading low.
Relative Strength Index
The RSI indicator on the daily time frame has turned bearish and is now issuing a strong sell signal.
MACD Indicator
The MACD indicator has turned bearish on the daily time frame, with the MACD histogram and signal line now issuing sell signals.
Conclusion
ICON is close to a major technical breakout on the daily time frame, with the invalidation of the bullish pattern on the four-hour time frame becoming a possible catalyst.
Overall, a confirmed technical breakout from sideways channel on the daily time frame could see the ICX / USD pair shredding close to thirty percent in value.
ICON Price Analysis ICX / USD: Staking Out A Price ChannelFundamental Analysis
ICON is gaining bullish momentum in anticipation of the launch of staking on its network. In August, ICX holders will receive incentives through ICX Staking and Voting reward. This would result in about a 15.81% maximum annual reward and could attract more HODLers to its network.
ICON / USD Short-term price analysis
ICON has a bullish short-term bias, with the ICX / USD pair recovering back above its 200-period moving average on the four-hour time frame.
The four-hour time frame shows that a large head and shoulders pattern still remain present, with ICX / USD bulls still unable to invalidate the bearish pattern.
Technical indicators on the four-hour time frame have turned bullish and continue to generate a buy signal.
Pattern Watch
Trading should note that the downside projection of the bearish pattern would take the ICX / USD pair back towards the February 2019 trading low.
Relative Strength Index
The RSI indicator has also turned bullish on the four-hour time frame, although it is approaching overbought territory.
MACD Indicator
The MACD indicator on the four-hour time frame is bullish and continues to generate a buy signal.
ICON / USD Medium-term price analysis
ICON has a neutral medium-term trading outlook, with the cryptocurrency trapped in a period of consolidation around its 200-day moving average.
The daily time frame is showing that the ICX/USD pair is trapped within a sideways price channel, highlighting the directionless nature of the cryptocurrency at present.
Technical indicators on the daily time frame are now starting to generate a buy signal.
ICX / USD Daily Chart by TradingView
Pattern Watch
Range trading is favored until a clear technical breakout has occurred from the sideways price channel.
Relative Strength Index
The RSI indicator on the daily time frame has moved above neutral and is now issuing a buy signal.
MACD Indicator
The MACD indicator is rising on the daily time frame, with the MACD histogram and signal line issuing buy signals.
Conclusion
The recent strong rally in ICON has failed to change the short and medium-term technical outlook for the cryptocurrency.
The sideways channel on the daily time frame highlights the overall uncertainty towards the ICX / USD pair, with the cryptocurrency still trading some thirty percent below the top of the price channel.
Is it alt season yet? ICX’s next form?ICX had a double bottom at $.18 and $.28 since the bottom. Where’s the next double bottom? Here’s a scenario anticipating the same kind of climb.
ICX Flag BreakoutICX is forming a double flag formation. There is a 100% gain potential to $0.66. I would sell half at $0.45 and the rest to $0.645.
ICX > 700% PotentialI will be the first to admit the recent bullish gains over the market have been surprising. If this trend continues then I predict that soon ICX will receive a massive bull run of it's own. The ICXBTC trading pair is at new ATL's, which is risky but also very rewarding if my prediction is true. Do your own research on this Korean project and you will see that they have been hard at work and it is only a matter of time before the price catches up to the potential.
My position is currently switched to long and I plan on holding that position as long as the market continues to look healthy in general. I will continue to purchase as much as possible each time the price dips. Do you really want to miss out on massive gains?
Timmy!
Icon,the korean returns.Good day,
We can see that Icon is in a very heavy accumulation phase.
All EMA's pointing upwards where we have a big resistance at 0.46~0.50$ area.
Icon is having an enormous set of news recently but nobody speaks about it.
Icon Staking starting in august,a lot of identification releases,Dapps,Dex,etc., all coming this quarter.
This is my darkest horse in crypto since 2018 bear market.When the ICX whales decide to pump it,it will and hard!
Remember that ICX is not one of the loser cryptos even if it lost a lot during 2018.ATH was 12$,now it's below 0.40$,it has a ton of releases and a working product,Korean government support and recently surpassed ETH and TRX on daily trx's,always a daily volume of around 15 mlns $.
I would always invest in such altcoins over Cardano,Tron or others that got hyped hard.
This is not a shill,decide for yourself.
Cheers :)
$ICX Although the main downtrend was broken in March when ICX started to slowly recover, it needs to get back above the white line and stay above $0.4
ICX is lagging behind IMO and should have a big run soonEven though ICX is up 2.4x since it's bear market lows, I feel it's still severely depressed compared to other altcoins.
BTC is up almost 3x, ETH is up 3.5x, LTC up almost 6x and there are other coins up even more than that. I'd expect ICX to have a big run at some point in the coming weeks to play catchup. They're supposed to launch staking for their coin in Q4 this year, if they can deliver on that it should be a big effect on the price.
#notfinancialadvice
icx long Should be good to go now. I'm still hold and wave 3 can go to target 2 also. Good place to enter lightly with wide stop and then add to position on break out.
*****Thread in comments****
you can follow my old trades in icx and current as they unfold in said thread
