ICX Technical Analysis: Sellers Dominate As Bullish Pattern Fails

ICX coin price faces a sudden surge in selling near the 200-day EMA resulting in a 16% discount within the last week. Should you buy this dip? Key technical points: ICX prices have decreased by 11.42% in the past 24 hours. In addition, the price collapsed under the 100-day EMA. Finally, the 24-hour trading volume of Icon is $36.18 Million, marking a 10.75% fall. Past Performance of ICX ICX coin price showcased a unique rounding bottom pattern with the neckline at the $1 mark. However, the high momentum bullish rally started from the $0.60 mark failed to give the bullish breakout. It was due to the increased selling near the resistance confluence of the neckline at the psychological barrier at $1 and the 200-day EMA. Source-Tradingview ICX Technical Analysis ICX coin price fails to sustain above the $1 barrier and falls under the $0.90 mark accounting for a 16% downfall and creating the three black crows pattern. Hence, the price action indicates a high probability of freefall to the $0.82 mark. As the Icon prices fail to surpass the 200-day EMA, the reversal breaks below the 100-day EMA and struggles to find support at the 50-day EMA. Moreover, the reversal halts the 50 and 100-day EMA crossover and results in their sideways movement. RSI Indicator: The RSI slope shows a sharp fall from the overbought boundary to the halfway mark and cracks below the 14-day SMA during the fall. Hence, the RSI line reflects a sharp decline in u...