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:
<ul>
 	<li style="font-weight: 400">ICX prices have decreased 6.25% in the past 24 hours.</li>
 	<li style="font-weight: 400">The 200-day EMA rejects the bullish rally.</li>
 	<li style="font-weight: 400">Finally, the 24-hour trading volume of Icon is $32.75 Million, marking a 60% fall.</li>
</ul>
<h2>Past Performance of ICX</h2>
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.

<img src="https://s3.tradingview.com/snapshots/c/caMVLrSc.png" alt="TradingView Chart" />

Source-<a href="https://www.tradingview.com/x/caMVLrSc/">Tradingview</a>
<h2>ICX Technical Analysis </h2>
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 bearish crossover. Therefore, the indicator is on the verge of giving a selling signal.

The ICX technical analysis reflects a high likelihood of a freefall below the $1 mark.
<h2>Upcoming Trend </h2>
The ICX/USD technical chart signifies the selling opportunities as the bears overtake trend control. The breakout of the $1 support level will result in a downtrend that may test the 100-day EMA. 

Support Levels: $1 and $0.91

Resistance Levels: $1.26 and $1.6

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?

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: Will Sellers Demolish $1 Support?

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