Icxusd
💡Don't miss the great buy opportunity in ICXUSD @helloiconworldTrading suggestion:
". There is a possibility of temporary retracement to the suggested support line (0.731).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. ICXUSD is in a range bound, and the beginning of an uptrend is expected.
. The price is above the 21-Day WEMA, which acts as a dynamic support.
. The RSI is at 48.
Take Profits:
TP1= @ 0.834
TP2= @ 0.912
TP3= @ 0.977
TP4= @ 1.067
TP5= @ 1.185
SL= Break below S2
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ICON to the moon long term!Icon is the most undervalued coin in crypto right now. 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.
Now! looking at the chart analysis. Icon has been making higher highs and higher lows. I believe we could definitely see a retest 0.8c to $1. But long mid term we will see the $4-$5 mark in the coming month or two. Long long term we will hit all time highs. We will just have to be patient.
Don't miss the great buy opportunity in ICXUSDTrading suggestion:
. There is a possibility of temporary retracement to suggested support line (0.5885). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. ICXUSD is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 50.
Take Profits:
TP1= @ 0.6736
TP2= @ 0.7319
TP3= @ 0.8037
TP4= @ 0.8713
TP5= @ 0.9578
SL= Break below S2
❤️ If you find this helpful and want more FREE forecasts in TradingView
. . . . . Please show your support back,
. . . . . . . . Hit the 👍 LIKE button,
. . . . . . . . . . . Drop some feedback below in the comment!
❤️ Your Support is very much 🙏 appreciated! ❤️
💎 Want us to help you become a better Forex trader ?
Now, It's your turn !
Be sure to leave a comment let us know how do you see this opportunity and forecast.
Trade well, ❤️
ForecastCity English Support Team ❤️
ICX / USD Price Analysis: Important TestICX / USD Short-term price analysis
ICON has a bullish outlook over the short-term, with the ICX / USD pair attempting to move back towards its current 2019 trading high.
The four-hour time frame shows that a head and shoulders pattern has started to take shape, with bulls now trying to invalidate the bearish pattern.
Technical indicators on the four-hour time frame have turned bullish and highlight the growing short-term upside pressure.
Pattern Watch
If the bearish head and shoulders pattern is triggered, the ICX / USD pair could fall 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 conditions.
MACD Indicator
The MACD indicator on the four-hour time frame is bullish and generating a buy signal.
Fundamental Analysis
ICX spiked after the announcement of P-Rep TestNet, which will be opening on April 30th. This is an important milestone for the project since it puts ICON one step away from the long-awaited staking. Staking should help the project to further decentralize its nodes and the governance of the network.
ICX / USD Medium-term price analysis
ICON has a bullish medium-term trading outlook, with the cryptocurrency advancing above its trend-defining 200-day moving average.
The daily time frame shows that a bearish head and shoulders pattern has formed. If buyers can invalidate the pattern, the ICX / USD pair may rally towards the November 7th trading high.
Technical indicators on the daily time frame are conflicted and failing to generate clear trading signals.
ICX / USD Daily Chart by Trading View
Pattern Watch
Traders should note that a much larger head and shoulders pattern could form on the daily time frame if the ICX / USD pair declines back towards the February trading low.
Relative Strength Index
The RSI indicator on the daily time frame is bullish and shows scope for further upside.
MACD Indicator
The MACD indicator is conflicted on the daily time frame, with the MACD histogram attempting to recover, while the MACD signal line remains bearish.
Fundamental Analysis
The medium-term outlook also looks positive. The platform plans various releases, with the on-chain election in Q4 2019. In addition to that, the project is planning several important initiatives that will expand its ecosystem, such as a dApp accelerator program, decentralized exchange, and decentralized identification.
Conclusion
ICON faces a crucial test over both the short and medium-term horizon, with buyers needing to invalidate the bearish head and shoulders patterns across four-hour and daily time frames.
If bulls invalidate the pattern, a rally towards the November 7th swing-high seems likely, while a bearish breakdown supports technical selling towards the February 2019 swing-low.