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- ICX coin price grows above the 0.5 Fib level but faces rejection near the resistance trendline.
- The ICX/BTC pair was trading at 0.00003381 BTC with a gain of 5.55 %
- The 24hr trading volume in ICX coin is $82.6 Million, with an increase of 1.32%.
THE ICX coin price action reveals an excellent form of a descending triangle pattern in the 4-hour chart as the price faces rejection near the resistance trendline. The support zone near the $2 mark forms the base of the triangle. Moreover, the bottom coincides with the 0.618 Fib level.
According to the EMA’s, YFI coins show a solid bullish trend as the price is trading above the 50, 100, and 200 EMA.’. The coin chart also indicates that the 50 and 100 EMA have given a bullish crossover which could help attract more buyers to the coin market.
Will ICX Coin Price Rise Above The Resistance Trendline?
At press time, the ICX coin price trades at $2.15, with a gain of 3.06% in the past 24 hours. Furthermore, the intraday trading volume of the coin gains few percentages in the past day.
The RSI indicator reflects a gradually rising underlying bullishness as the slope rise above the 50% level. The slope increases higher to the overbought zone with no divergence visible in the 4-hour timeframe. Hence, the RSI forecasts a bullish breakout.
The Moving average convergence divergence (MACD) indicator (BULLISH) shows that both the MACD line and signal lines are moving above the neutral zone (0.00). Furthermore, the lines recently gave a bullish crossover. Hence, the indicator provides an indication of rising bullish momentum in the ICX coin.
Conclusion: From the technical perspective, the overall trend of the ICX coin is bullish, and a breakout of the resistance trendline will reveal an excellent long opportunity for ICX traders.
Support– $2 and $1.88
Resistance– $2.33 and $2.5
