There are cryptocurrencies on the market which used the recent crisis as a trampoline with the help of which their price jumped to new trend-setting highs. THETA could serve as a great example of such explosiveness. Other coins, like Bitcoin Cash, have gone completely stagnant and display no price action that could tickle the nerves. And there is the third kind, the coins that are quietly and persistently making their way to the upside, like an old funicular.
ICX is bullish, though the momentum is fading
A brief look at the 3-month chart tells us that ICON is in the process of slow recovery after the market capitulation in March. We lay particular emphasis on the word ‘recovery’ because the price is yet to encounter a stern horizontal resistance, like the one at $0.38. By far, the price has been grinding through the Fibonacci retracement levels, actively interacting with each such level, which leads us to believe that the next area of active price action lies between the level 0.786, or $0.35, and support that will most probably emerge at the median support line, marked purple. The price target for that move is at $0.285.
3-month ICX/USDT chart