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$ICX is showing some solid bullish vibes right now, but it's kinda stuck in this consolidation phase – not blasting off just yet, you know?
On the volume side, we've seen some serious action lately with bars hitting up to 90M during that push to 0.0612, which screams big players getting involved. Now things have cooled off a bit, volumes normalizing, so it feels like we're just pausing before the next move up.
Looking at capital flows, there's a nice net inflow on contracts (407K USDT in the last 24h), but spot's seeing outflows (-197K USDT). That tells me leveraged longs are calling the shots here. Even in the past hour, another 29K USDT flowed into contracts, which backs up the short-term bull case.
Bottom line for trading: I'm leaning cautiously bullish
$ICX – maybe dip into a long, but keep that risk tight.
Best entry would be a dip back to 0.0555-0.0560, testing the 10MA support. If you're feeling aggressive, jump in around current levels (0.0563) with a strict stop.
Stop loss at 0.0538 – that's about 3% down, below Support and the 20MA.
Targets
$ICX : First at 0.0602 (Resistance), then stretch to 0.0641 (next resistance).
That negative funding rate and the KDJ starting to cross bearish could mean some shakes. If we drop under 0.0534 (Support), scrap the bull idea. I'd probably lock in some profits at R1 resistance 0.0602, especially with that 8.7% gap from the 24h high.
#ICX #ICXUSDT #ICON