ICON (ICX) Technical Analysis: Possible Bullish Breakout in the Short-Term

ICON (ICX) has been held in a flat trajectory for nearly two months, after recovering from a long decline that unraveled over -84% of its value from May to mid-August. In the last few weeks there has also been a marked decline in volatility and momentum, with ICX oscillating within a small 2,000 Sats range between the 0.5 and 0.236 Fibonacci levels (11,130 Sats, 9,310 Sats respectively).

Could this be the bottom for ICX, and could we start seeing South Korean support return to the asset once 2018 Korea Blockchain Expo finishes tomorrow? Let’s take a look.

On the 1D ICX/BTC chart, we can that the price action has been traveling sideways since September 6th, after candles fell through the 0.5 fib support during a correction and into the current channel (green box). Inside this channel we also have …

This article appeared first on Cryptovest

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