The South Korean cryptocurrency did well from 09th April-28th April & it formed cup. The traders and investers were waiting for the handle formation & right volume.
For 18 days it formed the support level at 0.00045 satoshi & my thought is that on 10th May 2018, it was recovering from the short term sell trend & it formed a large green candle but because of BITCOIN sell side action, it also affected the ICON and slows down it reversal process. Whatever be the reason, ICON is a long term player.
Now, TA of ICON shows +ve signs.It looks like that candle finding support at 50 day moving average & there is previous resistance at that lrice level.Previous resistance becomes new support.
In 4-Hour chart, we can see that it earlier forms wedge but after market fall it form triple top pattern. Which confirms short term price fall which now find supports at 50 day MA.
Well! It will be not healthy to break 0.000400 satoshi support.I think it will not break that level of support.
When we see the CCI, it already below the bottom line & volume is decreasing. This confirms that holders of ICON are not interested in selling.
9 day MA is already below 14 day MA.
Yet market cap of ICON is 1/3 rd of January capitalization.
So, overall it showing good signals but it is a market!!Anything could be happens in the market.
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Happy Trading & Investing.
NOTE:It is not an financial advice.It is just my opinion.