Aug 4, 2020
👀Huobi x CoinMarketCal👀A Coin To Keep An Eye On!
The ICON Project aims to build a decentralized network that allows independent blockchains with different governances to transact with one another without intermediaries. Anyone can create a new blockchain project and join the network. A new blockchain project is free to connect with existing projects and create new unique worlds, or blockchain multiverse. ICON itself can be viewed as both a living organism and an ecosystem.
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📅Events: Mainnet Update August 3rd per www.coinmarketcal.com.
📈Analysis
July saw a 50% climb and nearly equal drop as ICX bulls charged upwards with the rest of the altcoin market. However, this could give another entry if the bull market continues.
After running the shortstops above a swing high near the monthly level at 0.0000467, the bears took a week to load the shorts before pushing back to the 2020 range EQ and base of the move near 0.00003174.
Bulls could enter in the current area and target the EQ of the entire last move up at 0.00003679. Claiming this level is likely to lead to an attempt at the macro range EQ at 0.0000394.
A move up to the macro range gives bears a possible entry in the .618 to .786 Fibonacci retracement zone, with the pivot at 0.00004075 likely to provide resistance. Alternatively, bears could enter near the current area’s monthly resistances at 0.00003462 while targeting the Q2 2020 lows at 0.000027.
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