ICX Technical Analysis: Will Sellers Demolish $1 Support?

ICX coin price fails to surpass the 200-day EMA resulting in the sellers taking control and risking the fallout of $1. Should you sell before fallout? Key technical points: ICX prices have decreased 6.25% in the past 24 hours. The 200-day EMA rejects the bullish rally. Finally, the 24-hour trading volume of Icon is $32.75 Million, marking a 60% fall. Past Performance of ICX ICX coin price started a phenomenal bullish rally with the demand surging at the 50-day EMA. The coin price surpassed the $1 mark and the 100-day EMA with the 40% rally last fortnight. However, the buying spree failed to surpass the 200-day EMA resulting in the retracement to the psychological barrier of $1. Source-Tradingview ICX Technical Analysis ICX coin price action forms bearish engulfing candlesticks, undermining the lower price rejection that met near the 100-day EMA. Hence, the fallout of $1 seems imminent and teases a selling opportunity. The crucial daily EMAs (50, 100, and 200-days) maintain a bearish alignment and significant spread among the EMAs. Moreover, the rejection from the 200-day EMA might shortly test the 100-day EMA. Stochastic RSI Indicator: The Stochastic RSI shows the K and D line giving a bearish crossover in the overbought territory. Hence, the lines crossing below the 70% mark will generate a selling opportunity. MACD Indicator: The MACD and signal lines reflect a decline in the bullish spread and increase the chances of bearis...