ICX coin price shows a rejection from the 50-day EMA resulting in downfall to the $0.65 mark. Will sellers break under the support level?

Key technical points:
<ul>
 	<li style="font-weight: 400">ICX prices approach the $0.65 mark.</li>
 	<li style="font-weight: 400">However, the coin price fails to surpass the 50-day EMA.</li>
 	<li style="font-weight: 400">The 24-hour trading volume of Icon is $15.35 Million, reflecting a fall of 2%. </li>
</ul>
<h2>Past Performance of ICX</h2>
ICX prices experienced a rise in selling pressure as the consolidation range fallout rally created multiple bearish candles to bring the trend below $0.65. Hence, the difference started from the rejection at the 200-day EMA.

<img src="https://s3.tradingview.com/snapshots/n/nu5tcQRJ.png" alt="TradingView Chart" />

Source-<a href="https://www.tradingview.com/x/nu5tcQRJ/">Tradingview</a>
<h2>ICX Technical Analysis </h2>
The ICX price action shows a bearish candle of 5.65% breaking the daily support of $0.68, reflecting a bearish overtake. Hence, the possibility of the bearish trend breaching the $0.65 level increases significantly.

With the bearish continuation in the falling daily EMAs, the possibility of the price of a bullish reversal diminishes. Hence, the EMAs play the dynamic resistance role.

MACD indicator: The MACD and signal lines continue the downtrend after avoiding a bullish crossover. Moreover, the bearish histograms regain momentum, indicating growth in selling pressure.

RSI Indicator: The RSI slope shows a bearish continuation below the halfway line reflecting growth in underlying bearishness.  Moreover, the downtrend in the 14-day SMA remains in the nearly oversold zone, reflecting lower chances of bullish recovery. 

In a nutshell, the ICX technical analysis indicates a high possibility of a downtrend below the $0.65.
<h2>Upcoming Trend </h2>
ICX coin price action shows a rise in seller's influence as the bears break below the $0.70 mark with a bearish engulfing candle. Hence, the downtrend shows a gradual rise in trend momentum and will potentially surpass the $0.65 mark to reach $0.55.

Support Levels: $0.65 and $0.55

Resistance Levels: $0.70 and $0.75

ICX Technical Analysis: Bears Prepare Downfall Under $0.65

ICX coin price shows a rejection from the 50-day EMA resulting in downfall to the $0.65 mark. Will sellers break under the support level?

Vikram is a technical analyst with several years of experience in the crypto market &amp; Indian Equity and F&amp;O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

ICX Technical Analysis: Bears Prepare Downfall Under $0.65

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