Icon Price Analysis: ICX/USD rises over 180% in 73 days
- Icon is trading over 11% higher on Monday as the crypto market recovers.
- Over the last 73 sessions, Icon has pushed up heavily fast becoming the crypto darling.
ICX/USD 4-hour chart
ICX is fast becoming a crypto favourite and outperforming the rest of the market. As the 4-hour chart shows below, the price is moving higher in line with the purple channel. 0.3500 is now a key resistance point and although the price has printed above that level, there has not been a higher close.
On the downside, 0.300 has provided some support in the near term and seems to be the level to beat for the bears. The big red arrow at the bottom shows that the volume has picked up too and this bodes well for the bulls. It is always a good confirmation signal that when the market pushes higher there is good volume backing the move.
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Author
Rajan Dhall, MSTA
FX Daily
Rajan Dhall is an experienced market analyst, who has been trading professionally since 2007 managing various funds producing exceptional returns.
