🔍 Fundamental analysis
ICON Network is a South Korean Layer 1 blockchain aimed at connecting digital communities with real-world businesses through digital identity solutions, digital certificates, and e-gov solutions. The project has strong partnerships like Shinhan Bank and Danal Fintech, along with support from ICONLOOP, a leader in decentralized identity solutions in Korea.
ICX is part of the DeFi and NFT ecosystem connected to Ethereum via Orbit Bridge, enhancing asset liquidity and attracting users from outside the network. Despite the positive trends for the project, the coin's price is currently affected by overall market selling pressure, leading to a decline in recent days.
📈 Technical analysis (daily frame):
• Current price: 0.1309 USDT (-7.95% in the last 24 hours)
• Near support: 0.1290 USDT – Breaking this may open the way towards 0.1250 USDT
• First resistance: 0.1435 USDT – Breaking this may push the price towards 0.1520 USDT
• MACD indicator: Started showing signs of recovery after a downturn, with the fast line approaching the slow line
• SAR indicator: above the price, reflecting continued selling pressure
• Short-term outlook: If it holds above 0.1290 USDT, we may see a technical rebound; however, a clear break of this level means further decline
🎯 Summary:
In the short term, the price is testing an important support zone. Medium-term investors may be waiting for a buying opportunity at the supports, while speculators can monitor price movements around 0.1290 USDT for a quick rebound entry.
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