本文作者:maria.ka

Top 3 Unknown Cryptos Outperforming Bitcoin in 2020: ICX, WAN, AION

maria.ka 5个月前 ( 02-07 ) 131
Top 3 Unknown Cryptos Outperforming Bitcoin in 2020: ICX, WAN, AION摘要: ...

Top 3 Unknown Cryptos Outperforming Bitcoin in 2020: ICX, WAN, AION

6 hours ago via Cointelegraph

  • Bitcoin
  • Cryptocurrencies
  • ICON

Bitcoin (BTC) and large-cap cryptocurrencies have shown significant strength over the past few weeks but traders are also starting to pay attention to smaller cap coins. One of these coins is Icon (ICX), which has surged more than 200% over the past three weeks.

Similarly, WanChain (WAN) and AION (AION) also gained 60% and 120%, therefore an analysis of these coins is warranted.

Crypto market daily performance. Source: Coin360Icon breaks 2-year old downtrend against USD

Bitcoin recently broke out of a 7-month downtrend and as this happened many other coins broke their 2-year old downtrends. An example is shown through the chart of Icon.

ICX USD 1-day chart

ICX USD 1-day chart. Source: TradingView

The chart is showing a clear break of the 2-year old downtrend, which resulted in an upwards surge towards $0.39. This surge is a move of more than 200% in a matter of weeks.

The chart is also showing an apparent breakthrough of a critical level, which is the $0.18 level (green horizontal line).

Some things to bear in mind; significant upwards rallies of this size cause FOMO (fear of missing out) amongst traders. However, such an upwards rally usually retraces and corrects to find new support areas.

Given that the chart is showing an RSI of 95, its likely to see some correction before continuation.

ICX USDT 12-hour chart. Source: TradingView

The 12-hour chart is showing similarities with the 1-day chart. An apparent breakthrough of a downtrend, which caused a strong upwards move. The RSI is also at very high levels, indicating that the price needs some consolidation before continuation.

Current areas to watch for potential support are found at $0.285-0.30, $0.245, and $0.215.

The first area ($0.285-0.30) is a significant area as the price of ICX bounced on this level through the summer of 2019.

If ICX can find support at the $0.285-0.30 level, continuation towards the range high at $0.45 is likely. If it cant find support at this level, extension downwards to $0.245 is a possible outcome.

ICX/BTC breaks out of 6-month sideways range ICX BTC 12-hour chart

ICX BTC 12-hour chart. Source: TradingView

The ICX/BTC pair recently broke out of a 6-month sideways range and immediately rallied towards the next resistance. This resistance is found at 0.00004000 - 0.00004200 satoshis where the price is currently hovering.

The RSI ...

Read full story on Cointelegraph


Tags: Bitcoin, United States dollar, Coin, Chart, Chrono Crusade, TradingView, Wide area network, ICE 4, trader, Fibonacci retracement
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