As we take a closer look, we see some more healthy bullish signs. The orange EMA continues to act as support as we reach closer to the trend line and the upward sloping blue MA (equivalent of 8week MA). I didn’t draw support lines here because ICX seems to react better to the Moving Averages and my trend line. We can also see a few more bullish indicators. I drew a pair of purple trend lines on the MACD and RSI indicators showing a continuous uptrend in both.
Overall sentiment recommendation:
I am bullish on ICX in the short/medium term based solely off technical. If it can break out of this flag, we will look at the first red resistance level of ~0.000525 as a battle zone. Investors looking to sell can sell off a small portion of their position to lock in profits and keep most on the table as there isn’t much resistance until the second level of 0.000625. After that, if the trend is intact, we may see ICX floating around between the 2 resistance zones of 0.000625 and 0.0008808. If the healthy bullish trend lasts, ICX could be anywhere from 0.00065 BTC – 0.00088 around late June to Early July.
Overall sentiment recommendation:
I am bullish on ICX in the short/medium term based solely off technical. If it can break out of this flag, we will look at the first red resistance level of ~0.000525 as a battle zone. Investors looking to sell can sell off a small portion of their position to lock in profits and keep most on the table as there isn’t much resistance until the second level of 0.000625. After that, if the trend is intact, we may see ICX floating around between the 2 resistance zones of 0.000625 and 0.0008808. If the healthy bullish trend lasts, ICX could be anywhere from 0.00065 BTC – 0.00088 around late June to Early July.