Icon (ICXUSDT) Market Overview: July 16, 2025

Summary
• ICXUSDT closed at 0.1378 (+4.3%) after testing resistance at 0.138, with a 24-hour range of 0.1321–0.1383.
• Volume spiked to 205,034 units at 23:15 ET, coinciding with a failed breakout above 0.138.
• RSI hit overbought (70+) near resistance, suggesting a correction toward 0.1355 support.

Market Overview
Icon (ICXUSDT) opened at 0.1321 (12:00 ET-1) and closed at 0.1378 (12:00 ET), marking a 4.3% gain. The 24-hour session saw a high of 0.1383 and low of 0.1354, with total volume of 3,220,746 units and turnover of 4,930 USD.

Analysis

Structure & Formations

Resistance at 0.138 was tested multiple times but held, forming a near-term ceiling. Support at 0.1355–0.136 aligns with the 38.2% Fibonacci retracement of the recent 0.1321–0.1383 swing. No strong candlestick patterns emerged, though a bearish rejection at 0.1383 suggests weakening momentum.

Moving Averages

The 20-period SMA (15-min chart) sits at 0.1370, while the 50-period SMA holds at 0.1362. Both remain bullish, but the gap between them narrowed as price neared resistance. On the daily chart, ICXUSDT trades above its 50-day MA (0.1345), but proximity to the 100-day MA (0.1330) suggests intermediate-term stability.

MACD & RSI

MACD crossed above its signal line earlier in the session, but divergence emerged as RSI hit overbought (70+) near 0.1383. This signals exhaustion, increasing the likelihood of a pullback toward 0.136 or below.

Bollinger Bands

Price hugged the upper band (0.1375–0.138) during resistance tests, indicating overbought conditions. A move below the middle band (0.136) would signal a shift to sideways volatility.

Volume & Turnover

Volume surged to 205,034 units at 23:15 ET during the failed breakout, confirming resistance. Lower volume during corrections (e.g., 15,000 units at 08:00 ET) suggests limited selling pressure, favoring consolidation over sharp declines.

Fibonacci Retracements
A 61.8% retracement of the 0.1321–0.1383 swing aligns with 0.1372, a key intermediate support. A close below this would target 0.1355 (38.2%).

Forward Outlook
ICXUSDT may drift lower toward 0.136–0.1355 over the next 24 hours as overbought conditions unwind. Buyers defending 0.1355 could spark a rebound, but sustained weakness below 0.136 increases risks of a deeper pullback. Monitor volume for clues: strong buying at support could signal a resumption of the upward trend.

Risk caveat: Volatility remains high; traders should consider stop-losses near 0.135.