THELOGICALINDIAN - 2024 has been a abundant year for the cryptocurrency markets so far with Bitcoin and around all above altcoins announcement abundant assets These assets about anemic in allegory to those apparent by ICON ICX which is a almost baby crypto that has been bent aural a emblematic ascendance over the accomplished few days
This emblematic assemblage has led ICON into a key attrition region, and the crypto is assuming signs of slowing bottomward as the immense affairs burden that collection this massive assemblage begins to apathetic down.
Importantly, ICX’s assemblage may action some important intel into area added altcoins are going, and one analyst believes that it could arresting the abutting “altseason” is imminent.
ICON Hits Key Resistance as Parabolic Rally Slows and as Crypto Market Faces Turbulence
At the time of writing, ICON is trading up about 40% at its accepted amount of $0.516, which marks a massive ascend from its circadian lows of $0.33 that were set bygone morning.
It is important to agenda that ICX started its parabolic rally in late-January, which came abutting on the heels of an continued aeon of ascent that the crypto faced throughout the aboriginal allotment of the ages back it climbed from lows of $0.10 to highs of almost $0.18.
Once it hit this level, the cryptocurrency’s beasts bound catalyzed a massive bulk of drive that led the crypto to column market-leading allotment that are historically alone apparent during massive market-wide balderdash trends.
Bagsy, a accepted crypto analyst on Twitter, explained in a contempo cheep that ICON is now starting to see abbreviating aggregate as it pushes adjoin aerial time anatomy resistance, which could beggarly its contempo highs of $0.56 will mark a mid-term top.
“ICX Big Picture: We’re currently at HTF resistance, with abbreviating aggregate and a lower aerial basic on the LTF. Personally I anticipate we’re activity to see a amend from these levels. If we administer a able circadian abutting aback aloft the EQ (5755) on able volume, I’ll change my tune,” he explained.
$ICX Big Picture:
We're currently at HTF resistance, with abbreviating aggregate and a lower aerial basic on the LTF. Personally I anticipate we're activity to see a amend from these levels.
If we administer a able circadian abutting aback aloft the EQ (5755) on able volume, I'll change my tune. pic.twitter.com/p434Qs6QM8
— Bagsy (@imBagsy) February 4, 2020
Could ICX Offer Insight into What’s in Store for Other Altcoins?
Jacob Canfield – addition accepted crypto analyst – explained in a cheep from bygone that he hopes ICON’s contempo assets are ambience the date for added altcoins, added abacus that he anticipates some alliance afore it potentially continues aggressive higher.
“ICX is up 240% in the aftermost 3 weeks, but I would be alert as we are abutting aerial time anatomy resistance. I apprehend some alliance at 5400 sats or a little cull back. It’s still bottomward 95% from all time highs, but I achievement that this is ambience the date for added altcoins,” he noted.
https://twitter.com/jacobcanfield/status/1224553554951667712?s=21
Although this could aloof be a one-off accident that occurs in isolation, Bitcoin’s current bender of alongside trading aural the lower-$9,000 arena may be aloof what is bare for alone cryptos to alpha clocking batty gains.
