$ICX ICON Price Analysis and Best Trading Strategy ๐๐
Timeframe: 1H & 1D |
Current Price: $0.0970
Chart Breakdown:๐
$ICX has shown strength with a clear bullish structure on both the 1-hour and daily timeframes. A Break of Structure (BOS) confirmed the upside momentum as price pushed above key resistance at $0.0937. It is now trading within a minor consolidation phase after testing the upper resistance at $0.1008.
Daily Candle: ๐
๐Strong bullish move with multiple green candles forming a solid recovery from the $0.075 support.
EMA Confluence: $ICX Price is currently above the green EMA and nearing the blue 200EMA ($0.1008), which may act as short-term resistance.
Stochastic RSI: Overbought zone on the daily (97.55/93.83), showing momentum is strong but cooling off.
1H Chart: Recent retracement after strong breakout. Currently retesting the $0.0962 level.
Trade Strategy (LONG BIAS):๐ฅ
Entry Zone: $0.0950 โ $0.0960โ
Target 1: $0.1008๐ฏ
Target 2: $0.1065๐ฏ
Stoploss: $0.0935โฃ๏ธ
Risk-Reward: 1:2.5 approx.
Trade Duration: 6โ18 Hoursโ
Key Technical Notes:๐ฐ๐
If price consolidates above $0.0962, expect breakout continuation.
Bears can enter only below $0.0935 (invalidates bullish structure).
Pro Tip:๐งโ๐ซ
Volume confirmation and a successful retest of $0.0960โ$0.0970 zone will strengthen the probability of a breakout above $0.1008.
๐จโโค๏ธโ๐จ"Success in trading is not about predicting the market; it's about managing your position when the market moves."
Disclaimer: โ ๏ธ
This analysis is for educational purposes only. Please do your own research before investing or trading.
