THELOGICALINDIAN - Announcements bootless to accompany absolute changes to ICX
Fundamental Analysis
ICON has acquired anemic bullish drive afterwards the activity announced that its planning to accord abroad 3 actor ICX tokens to animate association to participate in the abounding bulge election. ICON is about to launch the aboriginal date of its ICONSENSUS program, area its participants will vote on-chain in the acclamation of abounding nodes. Pre-voting will commence on August 26.
ICON / USD Short-term amount analysis
ICON has a bearish concise bias, with the ICX / USD brace now trading beneath its 50-period and 200-period affective averages on the four-hour time frame.
The four-hour time anatomy shows that the contempo bearish concise activating charcoal in play, with the ICX / USD brace creating lower lows and lower highs.
Technical indicators on the four-hour time anatomy are attempting to about-face bullish, although the arresting charcoal weak.
Pattern Watch
Trading should agenda that the bearish ambit breach on the circadian time anatomy is belief on the concise technicals.
Relative Strength Index
The RSI indicator is attempting to about-face bullish on the four-hour time frame, although drive is weak.
MACD Indicator
The MACD indicator on the four-hour time anatomy is bullish and continues to affair a buy signal.
ICON / USD Medium-term amount analysis
ICON has a bearish medium-term outlook, with the 50-day affective boilerplate bridge beneath the 200-day affective average.
The circadian time anatomy is assuming that a huge abstruse blemish has occurred, with ICX / USD brace affective beneath a alongside amount approach that has been in abode back March 2024.
Technical indicators on the circadian time anatomy are bearish and are currently acutely oversold.
Pattern Watch
Traders should watch for a abeyant double-bottom accumulation if the ICX / USD brace fails to breach beneath the February 2024 trading low.
Relative Strength Index
The RSI indicator on the circadian time anatomy is bearish and is additionally acutely oversold.
MACD Indicator
The MACD indicator charcoal bearish on the circadian time frame, although it is currently acutely oversold.
Conclusion
ICON shows few signs of staging a accretion on the four-hour time anatomy as the ICX / USD brace continues to column bearish lower lows and lower highs.
The blemish from the alongside approach on the circadian time anatomy has prompted abundant abstruse selling, agreement the accepted accent appear the February 2024 trading low.
As always, analysis out our bread adviser for ICON, if you are attractive for a abrupt overview.
