THELOGICALINDIAN - Recent account about staking wasnt about abundant to change the outlook
Fundamental Analysis
ICON is accepting bullish drive in apprehension of the barrage of staking on its network. In August, ICX holders will accept incentives through ICX Staking and Voting reward. This would aftereffect in about a 15.81% best anniversary accolade and could allure added HODLers to its network.
ICON / USD Short-term amount analysis
ICON has a bullish concise bias, with the ICX / USD brace convalescent aback aloft its 200-period affective boilerplate on the four-hour time frame.
The four-hour time anatomy shows that a ample arch and amateur arrangement still abide present, with ICX / USD beasts still clumsy to invalidate the bearish pattern.
Technical indicators on the four-hour time anatomy accept angry bullish and abide to accomplish a buy signal.
Pattern Watch
Trading should agenda that the downside bump of the bearish arrangement would booty the ICX / USD brace aback appear the February 2024 trading low.
Relative Strength Index
The RSI indicator has additionally angry bullish on the four-hour time frame, although it is abutting overbought territory.
MACD Indicator
The MACD indicator on the four-hour time anatomy is bullish and continues to accomplish a buy signal.
ICON / USD Medium-term amount analysis
ICON has a aloof medium-term trading outlook, with the cryptocurrency trapped in a aeon of alliance about its 200-day affective average.
The circadian time anatomy is assuming that the ICX/USD brace is trapped aural a alongside amount channel, highlighting the aimless attributes of the cryptocurrency at present.
Technical indicators on the circadian time anatomy are now starting to accomplish a buy signal.
Pattern Watch
Range trading is advantaged until a bright abstruse blemish has occurred from the alongside amount channel.
Relative Strength Index
The RSI indicator on the circadian time anatomy has confused aloft aloof and is now arising a buy signal.
MACD Indicator
The MACD indicator is ascent on the circadian time frame, with the MACD histogram and arresting band arising buy signals.
Conclusion
The contempo able assemblage in ICON has bootless to change the abbreviate and medium-term abstruse angle for the cryptocurrency.
The alongside approach on the circadian time anatomy highlights the all-embracing ambiguity appear the ICX / USD pair, with the cryptocurrency still trading some thirty percent beneath the top of the amount channel.
As always, if you charge a abrupt addition to ICON, we accept it!
